Carvana Co. $CVNA Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its stake in Carvana Co. (NYSE:CVNA) by 97.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,270 shares of the company’s stock after selling 339,030 shares during the period. Pacer Advisors Inc.’s holdings in Carvana were worth $2,286,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Ascentis Independent Advisors acquired a new stake in Carvana in the 1st quarter valued at approximately $26,000. Farmers & Merchants Investments Inc. purchased a new stake in Carvana in the fourth quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Motiv8 Investments LLC purchased a new position in shares of Carvana during the fourth quarter worth $33,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Carvana during the first quarter worth $36,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Up 3.6%

Shares of Carvana stock opened at $70.83 on Friday. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The company has a 50 day moving average of $66.55 and a 200 day moving average of $69.82. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $77.95 billion, a P/E ratio of 39.18, a P/E/G ratio of 2.52 and a beta of 3.46.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the firm posted $1.51 EPS. The company’s quarterly revenue was up 52.4% compared to the same quarter last year. As a group, research analysts forecast that Carvana Co. will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, Director Ira J. Platt sold 15,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the transaction, the director owned 186,470 shares in the company, valued at approximately $12,648,260.10. The trade was a 7.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total value of $3,225,000.00. Following the completion of the transaction, the chief operating officer directly owned 535,709 shares in the company, valued at $34,553,230.50. This trade represents a 8.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 391,372 shares of company stock worth $26,555,789. 15.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CVNA shares. Citizens Jmp cut their price objective on Carvana from $103.00 to $83.00 and set a “market outperform” rating on the stock in a report on Thursday, July 30th. BNP Paribas Exane lowered their target price on Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Citigroup dropped their target price on Carvana from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Argus reduced their price target on shares of Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. Finally, Stephens increased their price target on shares of Carvana from $86.00 to $97.00 in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.