UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in Carvana Co. (NYSE:CVNA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,294 shares of the company's stock after selling 13,137 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.11% of Carvana worth $38,007,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Carvana by 13.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,140 shares of the company's stock worth $3,332,000 after purchasing an additional 2,243 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Carvana by 4.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 306,148 shares of the company's stock worth $53,303,000 after acquiring an additional 13,048 shares during the last quarter. Townsquare Capital LLC purchased a new position in Carvana during the third quarter valued at $282,000. Quantbot Technologies LP grew its stake in Carvana by 509.1% during the third quarter. Quantbot Technologies LP now owns 47,610 shares of the company's stock valued at $8,289,000 after acquiring an additional 39,794 shares in the last quarter. Finally, FMR LLC increased its holdings in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company's stock valued at $2,152,311,000 after acquiring an additional 5,882,656 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Carvana from $175.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Robert W. Baird raised their price target on Carvana from $160.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. JMP Securities lifted their price objective on Carvana from $200.00 to $320.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 31st. Needham & Company LLC increased their target price on Carvana from $200.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Evercore ISI raised their target price on shares of Carvana from $240.00 to $245.00 and gave the company an "in-line" rating in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $220.94.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $141.72, for a total value of $10,629,000.00. Following the completion of the sale, the insider now owns 40,733,131 shares in the company, valued at approximately $5,772,699,325.32. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 14,548 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total value of $2,880,504.00. Following the transaction, the insider now owns 119,494 shares in the company, valued at $23,659,812. The trade was a 10.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,172,063 shares of company stock valued at $403,916,959. 17.18% of the stock is currently owned by company insiders.

Carvana Trading Up 1.3 %

Shares of NYSE:CVNA traded up $3.44 during trading hours on Wednesday, hitting $259.20. 1,249,532 shares of the company's stock traded hands, compared to its average volume of 4,610,546. The firm has a market capitalization of $53.82 billion, a P/E ratio of 25,579.58 and a beta of 3.32. The business has a fifty day moving average price of $216.65 and a 200-day moving average price of $161.56. Carvana Co. has a 1 year low of $36.53 and a 1 year high of $268.34. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.47 billion. During the same quarter in the previous year, the firm earned $0.23 EPS. Carvana's revenue was up 31.8% compared to the same quarter last year. Equities analysts expect that Carvana Co. will post 0.76 earnings per share for the current year.

About Carvana

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.