QRG Capital Management Inc. Lowers Stock Position in Carvana Co. (NYSE:CVNA)

QRG Capital Management Inc. cut its position in shares of Carvana Co. (NYSE:CVNA) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,982 shares of the company’s stock after selling 731 shares during the quarter. QRG Capital Management Inc.’s holdings in Carvana were worth $1,216,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC bought a new position in shares of Carvana in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC grew its stake in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Carvana during the 4th quarter worth $34,000. Capital Performance Advisors LLP purchased a new position in shares of Carvana in the 3rd quarter worth about $40,000. Finally, Versant Capital Management Inc bought a new position in Carvana during the fourth quarter valued at about $42,000. 56.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CVNA. Royal Bank of Canada lifted their price objective on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Needham & Company LLC upped their price objective on Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Robert W. Baird raised their target price on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Evercore ISI boosted their target price on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Finally, Citigroup increased their price target on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $265.06.

Carvana Stock Performance

NYSE CVNA opened at $219.39 on Tuesday. The company’s 50 day simple moving average is $233.01 and its two-hundred day simple moving average is $212.38. The stock has a market capitalization of $45.55 billion, a PE ratio of 139.74 and a beta of 3.37. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ira J. Platt sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the sale, the director now owns 5,227 shares in the company, valued at approximately $1,276,956.10. This trade represents a 82.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the transaction, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,629 shares of company stock worth $30,866,419. 17.12% of the stock is currently owned by 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.