Deuterium Capital Management LLC Reduces Stock Position in Carvana Co. (NYSE:CVNA)

Deuterium Capital Management LLC decreased its position in Carvana Co. (NYSE:CVNA) by 20.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,000 shares of the company’s stock after selling 5,000 shares during the quarter. Carvana makes up 0.7% of Deuterium Capital Management LLC’s investment portfolio, making the stock its 28th largest position. Deuterium Capital Management LLC’s holdings in Carvana were worth $518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVNA. Morgan Stanley raised its position in Carvana by 65.1% during the 4th quarter. Morgan Stanley now owns 14,083,153 shares of the company’s stock valued at $66,754,000 after purchasing an additional 5,554,691 shares during the last quarter. Exor Capital LLP bought a new position in shares of Carvana during the first quarter valued at approximately $50,756,000. Spruce House Investment Management LLC raised its holdings in shares of Carvana by 52.7% during the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after acquiring an additional 3,450,000 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Carvana in the fourth quarter worth $14,102,000. Finally, FMR LLC boosted its holdings in Carvana by 143.7% in the first quarter. FMR LLC now owns 4,667,263 shares of the company’s stock valued at $45,693,000 after acquiring an additional 2,752,097 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CVNA shares. Morgan Stanley dropped their target price on shares of Carvana from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday. William Blair reaffirmed a “market perform” rating on shares of Carvana in a research report on Friday. Jefferies Financial Group lowered Carvana from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $55.00 to $30.00 in a research report on Monday, July 31st. BNP Paribas cut Carvana from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Thursday, October 12th. Finally, Piper Sandler lowered their price objective on Carvana from $48.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, November 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.67.

Insider Activity at Carvana

In related news, insider Paul W. Breaux sold 20,000 shares of Carvana stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $49.00, for a total value of $980,000.00. Following the completion of the sale, the insider now directly owns 165,174 shares in the company, valued at approximately $8,093,526. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.12% of the stock is currently owned by insiders.

Carvana Stock Down 6.5 %

Shares of NYSE CVNA traded down $2.16 during midday trading on Tuesday, hitting $30.96. The stock had a trading volume of 2,440,499 shares, compared to its average volume of 20,407,850. The business’s 50 day moving average is $36.48 and its 200-day moving average is $32.93. Carvana Co. has a 52 week low of $3.55 and a 52 week high of $57.19. The company has a market cap of $6.18 billion, a P/E ratio of -5.12 and a beta of 3.09.

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.