Bank of Montreal Can Decreases Holdings in Carvana Co. $CVNA

Bank of Montreal Can cut its position in Carvana Co. (NYSE:CVNA) by 32.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 136,424 shares of the company’s stock after selling 66,057 shares during the period. Bank of Montreal Can’s holdings in Carvana were worth $45,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of Carvana in the second quarter valued at $25,000. Brooklyn Investment Group raised its stake in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after buying an additional 125 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana in the first quarter valued at $33,000. SJS Investment Consulting Inc. raised its stake in shares of Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of Carvana in the second quarter valued at $42,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Down 0.2%

Shares of NYSE:CVNA opened at $309.20 on Thursday. The firm has a fifty day moving average price of $359.57 and a two-hundred day moving average price of $333.26. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The company has a market cap of $66.54 billion, a price-to-earnings ratio of 70.59, a PEG ratio of 1.12 and a beta of 3.50.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. Analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $375.00, for a total value of $5,625,000.00. Following the completion of the transaction, the insider directly owned 83,018 shares of the company’s stock, valued at $31,131,750. This trade represents a 15.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan S. Keeton sold 32,370 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the completion of the transaction, the insider directly owned 115,456 shares of the company’s stock, valued at approximately $34,830,766.08. The trade was a 21.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 753,475 shares of company stock worth $268,535,378. 17.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVNA. Stephens restated an “overweight” rating and issued a $440.00 target price on shares of Carvana in a research note on Tuesday, September 23rd. Piper Sandler increased their target price on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Jefferies Financial Group restated a “buy” rating on shares of Carvana in a research report on Thursday, October 30th. DA Davidson set a $360.00 target price on Carvana in a research report on Thursday, October 30th. Finally, Gordon Haskett began coverage on Carvana in a research report on Monday, July 14th. They set a “hold” rating and a $329.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $415.50.

Carvana Company 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.