Carvana Co. $CVNA is Massachusetts Institute of Technology’s 2nd Largest Position

Massachusetts Institute of Technology trimmed its position in shares of Carvana Co. (NYSE:CVNA) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 577,924 shares of the company’s stock after selling 55,000 shares during the period. Carvana accounts for 23.7% of Massachusetts Institute of Technology’s portfolio, making the stock its 2nd largest holding. Massachusetts Institute of Technology owned 0.27% of Carvana worth $218,016,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. ORG Partners LLC raised its holdings in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after acquiring an additional 87 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Carvana during the third quarter worth about $38,000. Washington Trust Advisors Inc. purchased a new position in Carvana in the 3rd quarter worth approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Carvana in the 2nd quarter worth approximately $38,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Carvana in the 2nd quarter worth approximately $49,000. Institutional investors own 56.71% of the company’s stock.

Insider Activity at Carvana

In other Carvana news, insider Daniel J. Gill sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the completion of the transaction, the insider owned 191,106 shares in the company, valued at $90,821,215.44. The trade was a 17.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul W. Breaux sold 8,473 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $475.00, for a total value of $4,024,675.00. Following the transaction, the insider directly owned 69,289 shares in the company, valued at approximately $32,912,275. This represents a 10.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 132,621 shares of company stock worth $59,163,610 in the last three months. 16.36% of the stock is owned by insiders.

Carvana Trading Up 3.5%

Shares of NYSE CVNA opened at $328.74 on Tuesday. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $486.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73. The business’s 50 day moving average is $397.33 and its two-hundred day moving average is $380.49. The stock has a market capitalization of $71.94 billion, a P/E ratio of 40.89 and a beta of 3.60.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, topping the consensus estimate of $1.10 by $3.12. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same period in the previous year, the firm earned $0.56 earnings per share. Carvana’s quarterly revenue was up 58.0% compared to the same quarter last year. As a group, research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CVNA shares. Citigroup lowered their target price on shares of Carvana from $550.00 to $465.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Carvana from $600.00 to $519.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Weiss Ratings upgraded Carvana from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Jefferies Financial Group decreased their target price on Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, Wells Fargo & Company cut their price target on Carvana from $525.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $440.59.

About Carvana

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.