Carvana Co. (NYSE:CVNA) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 64.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,502 shares of the company's stock after selling 6,487 shares during the quarter. SG Americas Securities LLC's holdings in Carvana were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CVNA. Sugarloaf Wealth Management LLC purchased a new stake in Carvana in the third quarter worth $32,000. ORG Wealth Partners LLC purchased a new position in Carvana in the 4th quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in Carvana during the 3rd quarter valued at about $40,000. Versant Capital Management Inc purchased a new stake in Carvana in the 4th quarter valued at about $42,000. Finally, First Horizon Advisors Inc. grew its stake in Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company's stock worth $44,000 after acquiring an additional 196 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE CVNA traded down $1.47 during trading hours on Thursday, reaching $243.99. The stock had a trading volume of 2,207,012 shares, compared to its average volume of 4,358,632. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34. The stock has a fifty day moving average of $230.89 and a 200 day moving average of $192.84. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The stock has a market cap of $50.66 billion, a P/E ratio of 24,423.42 and a beta of 3.38.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The firm's revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. Sell-side analysts predict that Carvana Co. will post 0.88 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on CVNA shares. Evercore ISI raised their price objective on Carvana from $240.00 to $245.00 and gave the stock an "in-line" rating in a report on Tuesday, December 3rd. Wedbush raised their price target on Carvana from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Monday, October 7th. Royal Bank of Canada upgraded shares of Carvana from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $270.00 to $280.00 in a report on Tuesday, January 7th. Robert W. Baird boosted their price target on shares of Carvana from $160.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, JMP Securities reiterated a "market outperform" rating and set a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $241.94.

Insider Activity

In other news, insider Daniel J. Gill sold 44,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now directly owns 191,225 shares of the company's stock, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark W. Jenkins sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $241.78, for a total value of $4,835,600.00. Following the completion of the sale, the chief financial officer now directly owns 170,732 shares of the company's stock, valued at approximately $41,279,582.96. This represents a 10.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 347,340 shares of company stock valued at $81,044,588 in the last quarter. 17.12% of the stock is currently owned by company insiders.

Carvana Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.