Smartleaf Asset Management LLC Sells 34 Shares of Carvana Co. $CVNA

Smartleaf Asset Management LLC reduced its holdings in shares of Carvana Co. (NYSE:CVNA) by 5.9% during the first quarter, Holdings Channel reports. The fund owned 542 shares of the company’s stock after selling 34 shares during the period. Smartleaf Asset Management LLC’s holdings in Carvana were worth $111,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CVNA. Price T Rowe Associates Inc. MD grew its holdings in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Durable Capital Partners LP grew its holdings in shares of Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after purchasing an additional 129,246 shares during the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Carvana by 29.8% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock worth $247,017,000 after purchasing an additional 278,760 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock worth $207,086,000 after purchasing an additional 481,912 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Performance

NYSE:CVNA opened at $376.75 on Friday. The stock has a market cap of $81.08 billion, a P/E ratio of 94.42, a price-to-earnings-growth ratio of 1.21 and a beta of 3.57. The firm’s fifty day simple moving average is $345.70 and its 200 day simple moving average is $281.81. Carvana Co. has a twelve month low of $124.39 and a twelve month high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) earnings per share. As a group, research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVNA. Evercore ISI raised their target price on shares of Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a report on Tuesday, August 12th. Needham & Company LLC raised their target price on shares of Carvana from $340.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Robert W. Baird raised their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Piper Sandler raised their target price on shares of Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Finally, Bank of America lifted their price target on shares of Carvana from $375.00 to $425.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $383.47.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the completion of the transaction, the insider owned 37,092,317 shares of the company’s stock, valued at approximately $12,870,663,075.83. This trade represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 2,865,507 shares of company stock worth $1,003,408,791 over the last ninety days. Company insiders own 17.12% of the company’s stock.

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.