Carvana Co. (NYSE:CVNA) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in shares of Carvana Co. (NYSE:CVNA) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,187 shares of the company’s stock after selling 64 shares during the quarter. Corebridge Financial Inc.’s holdings in Carvana were worth $241,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CVNA. Fidelis Capital Partners LLC raised its holdings in Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after acquiring an additional 51 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after buying an additional 74 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after buying an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Trading Up 1.6 %

Carvana stock opened at $206.91 on Friday. The company has a 50 day moving average price of $216.20 and a 200 day moving average price of $220.23. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84. The firm has a market capitalization of $44.11 billion, a price-to-earnings ratio of 131.79 and a beta of 3.61.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Research analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Insider Activity

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $150.90, for a total value of $7,545,000.00. Following the transaction, the chief operating officer now directly owns 123,803 shares in the company, valued at approximately $18,681,872.70. This represents a 28.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 330,810 shares of company stock worth $69,243,820 in the last ninety days. Corporate insiders own 16.36% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of several recent research reports. DA Davidson boosted their target price on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. JPMorgan Chase & Co. dropped their target price on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Piper Sandler upgraded shares of Carvana from a “neutral” rating to an “overweight” rating in a research report on Monday, March 31st. Finally, Wedbush set a $250.00 price target on shares of Carvana and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.59.

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.