Carvana Co. (NYSE:CVNA) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lowered its holdings in Carvana Co. (NYSE:CVNA – Get Rating) by 42.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,856 shares of the company’s stock after selling 25,463 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Carvana were worth $687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Carvana by 49.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 20,100,843 shares of the company’s stock worth $453,877,000 after buying an additional 6,670,993 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Carvana by 29.7% during the third quarter. Baillie Gifford & Co. now owns 14,144,058 shares of the company’s stock worth $287,125,000 after buying an additional 3,242,429 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Carvana by 46.8% during the first quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock worth $870,511,000 after buying an additional 2,325,545 shares in the last quarter. CAS Investment Partners LLC boosted its holdings in Carvana by 1.5% during the third quarter. CAS Investment Partners LLC now owns 6,827,803 shares of the company’s stock worth $138,604,000 after buying an additional 100,000 shares in the last quarter. Finally, Spruce House Investment Management LLC boosted its holdings in Carvana by 6.5% during the third quarter. Spruce House Investment Management LLC now owns 6,550,000 shares of the company’s stock worth $132,965,000 after buying an additional 400,000 shares in the last quarter. Institutional investors and hedge funds own 63.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Argus downgraded shares of Carvana from a “hold” rating to a “sell” rating in a report on Monday, November 21st. William Blair lowered shares of Carvana from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 7th. Bank of America cut Carvana from a “buy” rating to a “neutral” rating in a report on Wednesday, November 30th. Wedbush reiterated an “underperform” rating on shares of Carvana in a report on Friday, February 24th. Finally, Needham & Company LLC cut Carvana from a “buy” rating to a “hold” rating in a report on Friday, December 9th. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.80.

Carvana Trading Up 2.3 %

CVNA opened at $7.48 on Tuesday. Carvana Co. has a one year low of $3.55 and a one year high of $150.84. The stock has a market capitalization of $1.41 billion, a PE ratio of -0.48 and a beta of 2.80. The business’s 50 day moving average price is $8.86 and its 200 day moving average price is $13.93. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.05 and a current ratio of 1.77.

Carvana (NYSE:CVNA – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported ($0.97) EPS for the quarter, beating analysts’ consensus estimates of ($2.30) by $1.33. Carvana had a negative return on equity of 1,491.81% and a negative net margin of 11.67%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.02 billion. As a group, equities research analysts expect that Carvana Co. will post -7.5 EPS for the current year.

About Carvana

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Carvana Co is a holding company and an eCommerce platform, which engages in the buying and selling of used cars. The company was founded by Ernest Garcia, III, Benjamin Huston and Ryan Keeton in 2012 and is headquartered in Tempe, AZ.