Swiss National Bank Sells 15,700 Shares of Carvana Co. $CVNA

Swiss National Bank reduced its holdings in shares of Carvana Co. (NYSE:CVNA) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 350,300 shares of the company’s stock after selling 15,700 shares during the quarter. Swiss National Bank owned 0.16% of Carvana worth $132,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CVNA. Schroder Investment Management Group boosted its holdings in shares of Carvana by 305.9% during the 3rd quarter. Schroder Investment Management Group now owns 21,691 shares of the company’s stock valued at $8,517,000 after acquiring an additional 16,347 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Carvana by 7.1% in the third quarter. Private Advisor Group LLC now owns 22,422 shares of the company’s stock worth $8,458,000 after purchasing an additional 1,478 shares during the last quarter. Regal Partners Ltd bought a new stake in Carvana in the 3rd quarter worth approximately $981,000. Vinva Investment Management Ltd raised its stake in Carvana by 15.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 8,957 shares of the company’s stock valued at $3,517,000 after buying an additional 1,181 shares during the last quarter. Finally, CreativeOne Wealth LLC bought a new position in shares of Carvana during the 3rd quarter valued at $303,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Down 3.0%

Shares of NYSE:CVNA opened at $318.26 on Wednesday. The stock has a 50 day moving average of $395.11 and a 200 day moving average of $380.21. The company has a market cap of $69.65 billion, a PE ratio of 39.58 and a beta of 3.60. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $486.89. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter last year, the business earned $0.56 EPS. The firm’s revenue was up 58.0% compared to the same quarter last year. As a group, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Evercore cut their price objective on Carvana from $430.00 to $390.00 in a report on Thursday, February 19th. Stephens reissued an “overweight” rating and issued a $519.00 target price on shares of Carvana in a research report on Thursday, February 19th. Wedbush cut their price target on Carvana from $500.00 to $425.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. BTIG Research reduced their price target on shares of Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Finally, Royal Bank Of Canada lowered their price objective on shares of Carvana from $500.00 to $440.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus price target of $440.59.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 20,000 shares of Carvana stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $475.00, for a total value of $9,500,000.00. Following the completion of the transaction, the chief operating officer owned 100,758 shares in the company, valued at approximately $47,860,050. The trade was a 16.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 8,473 shares of Carvana stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $475.00, for a total transaction of $4,024,675.00. Following the sale, the insider directly owned 69,289 shares of the company’s stock, valued at $32,912,275. This represents a 10.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 132,621 shares of company stock worth $59,163,610 in the last quarter. Company insiders own 16.36% of the company’s stock.

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.