Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its position in Carvana Co. (NYSE:CVNA – Get Rating) by 77.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,660 shares of the company’s stock after selling 87,129 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Carvana were worth $521,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in CVNA. Harbor Capital Advisors Inc. boosted its holdings in Carvana by 165.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,246 shares of the company’s stock worth $208,000 after buying an additional 6,384 shares during the period. US Bancorp DE grew its position in shares of Carvana by 67.0% in the third quarter. US Bancorp DE now owns 3,562 shares of the company’s stock valued at $72,000 after purchasing an additional 1,429 shares in the last quarter. CWM LLC raised its stake in shares of Carvana by 150.6% during the 3rd quarter. CWM LLC now owns 1,531 shares of the company’s stock valued at $31,000 after purchasing an additional 920 shares during the period. Baillie Gifford & Co. lifted its holdings in Carvana by 29.7% during the 3rd quarter. Baillie Gifford & Co. now owns 14,144,058 shares of the company’s stock worth $287,125,000 after purchasing an additional 3,242,429 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Carvana by 3.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 109,991 shares of the company’s stock worth $2,233,000 after purchasing an additional 3,855 shares during the period. Hedge funds and other institutional investors own 63.62% of the company’s stock.
Carvana Stock Performance
NYSE:CVNA opened at $6.49 on Friday. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.01 and a current ratio of 2.38. Carvana Co. has a fifty-two week low of $3.55 and a fifty-two week high of $167.00. The business has a 50 day moving average price of $6.07 and a 200-day moving average price of $19.81. The firm has a market cap of $1.23 billion, a PE ratio of -0.73 and a beta of 2.41.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Wedbush reissued a “sell” rating and issued a $1.00 price target on shares of Carvana in a report on Wednesday, December 28th. Morgan Stanley reduced their price target on shares of Carvana from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 11th. Cowen downgraded Carvana from an “outperform” rating to a “market perform” rating in a research report on Monday, November 21st. JMP Securities reduced their target price on Carvana from $70.00 to $45.00 and set a “market outperform” rating for the company in a research report on Friday, October 21st. Finally, Oppenheimer cut Carvana from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 15th. Two analysts have rated the stock with a sell rating, twenty have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.65.
Insider Buying and Selling at Carvana
In other Carvana news, insider Daniel J. Gill bought 133,000 shares of Carvana stock in a transaction dated Monday, November 21st. The shares were purchased at an average cost of $7.62 per share, with a total value of $1,013,460.00. Following the completion of the purchase, the insider now owns 263,415 shares of the company’s stock, valued at $2,007,222.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Thomas Taira bought 10,000 shares of Carvana stock in a transaction on Friday, November 11th. The shares were purchased at an average price of $11.13 per share, for a total transaction of $111,300.00. Following the acquisition, the insider now owns 42,518 shares of the company’s stock, valued at $473,225.34. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Gill bought 133,000 shares of the stock in a transaction dated Monday, November 21st. The stock was purchased at an average price of $7.62 per share, with a total value of $1,013,460.00. Following the purchase, the insider now owns 263,415 shares in the company, valued at $2,007,222.30. The disclosure for this purchase can be found here. Insiders acquired 251,000 shares of company stock valued at $2,065,760 in the last 90 days. Insiders own 17.67% of the company’s stock.
Carvana Co is a holding company and an eCommerce platform, engages in the buying of used cars and provision of different and convenient car buying experiences. It operates through the following segments: Vehicle Sales, Wholesale Vehicle Sales, and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle sales to customers through its website.
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