Acadian Asset Management LLC Has $5.67 Million Position in Carvana Co. $CVNA

Acadian Asset Management LLC lessened its position in Carvana Co. (NYSE:CVNA) by 45.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,854 shares of the company’s stock after selling 14,072 shares during the period. Acadian Asset Management LLC’s holdings in Carvana were worth $5,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in Carvana by 30.5% during the first quarter. Envestnet Asset Management Inc. now owns 45,995 shares of the company’s stock worth $9,617,000 after purchasing an additional 10,753 shares during the period. Stephens Inc. AR acquired a new stake in shares of Carvana in the first quarter valued at approximately $303,000. Signaturefd LLC lifted its position in shares of Carvana by 5.1% in the first quarter. Signaturefd LLC now owns 1,902 shares of the company’s stock valued at $398,000 after buying an additional 93 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Carvana by 9.2% during the 1st quarter. Sigma Planning Corp now owns 1,300 shares of the company’s stock worth $272,000 after acquiring an additional 110 shares during the period. Finally, Wealthfront Advisers LLC increased its holdings in shares of Carvana by 35.2% during the 1st quarter. Wealthfront Advisers LLC now owns 18,303 shares of the company’s stock worth $3,827,000 after acquiring an additional 4,766 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Insider Transactions at Carvana

In other news, VP Stephen R. Palmer sold 1,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $305.00, for a total value of $305,000.00. Following the completion of the transaction, the vice president directly owned 41,868 shares in the company, valued at approximately $12,769,740. This represents a 2.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory B. Sullivan sold 2,500 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $340.00, for a total transaction of $850,000.00. Following the transaction, the director directly owned 39,428 shares in the company, valued at approximately $13,405,520. This represents a 5.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 426,452 shares of company stock valued at $154,720,683. Company insiders own 17.12% of the company’s stock.

Carvana Trading Down 2.8%

NYSE:CVNA opened at $319.04 on Friday. The company has a market cap of $69.40 billion, a PE ratio of 72.84, a PEG ratio of 1.19 and a beta of 3.50. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The firm has a 50-day moving average of $352.99 and a 200-day moving average of $336.44.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the prior year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. As a group, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on CVNA. Wells Fargo & Company raised their price target on Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Morgan Stanley set a $450.00 target price on shares of Carvana in a report on Monday, October 20th. Jefferies Financial Group reiterated a “buy” rating on shares of Carvana in a research note on Thursday, October 30th. Evercore ISI cut their price objective on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating for the company in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $414.16.

About Carvana

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.