Carvana Co (CVNA) Major Shareholder Ddfs Partnership Lp Sells 896,542 Shares

Carvana Co (NYSE:CVNA) major shareholder Ddfs Partnership Lp sold 896,542 shares of Carvana stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $64.93, for a total value of $58,212,472.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Ddfs Partnership Lp also recently made the following trade(s):

  • On Tuesday, September 11th, Ddfs Partnership Lp sold 253,877 shares of Carvana stock. The stock was sold at an average price of $69.30, for a total value of $17,593,676.10.

CVNA opened at $63.43 on Friday. The stock has a market capitalization of $9.45 billion, a PE ratio of -52.42 and a beta of -1.25. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. Carvana Co has a 12 month low of $12.17 and a 12 month high of $72.59.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, August 8th. The company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.03). The company had revenue of $475.29 million during the quarter, compared to analysts’ expectations of $425.16 million. Carvana had a negative return on equity of 33.44% and a negative net margin of 5.30%. The firm’s quarterly revenue was up 127.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.28) EPS. analysts predict that Carvana Co will post -1.49 earnings per share for the current year.

Several brokerages have issued reports on CVNA. Craig Hallum reaffirmed a “hold” rating on shares of Carvana in a research note on Thursday. Bank of America lifted their price target on Carvana from $35.00 to $45.00 and gave the stock a “positive” rating in a research note on Wednesday, June 27th. Wells Fargo & Co reaffirmed a “buy” rating and set a $44.00 price target on shares of Carvana in a research note on Sunday, June 24th. Stephens began coverage on Carvana in a research note on Tuesday, September 4th. They set an “equal weight” rating for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $35.00 price target on shares of Carvana in a research note on Friday, July 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $47.19.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Carvana by 10.4% in the second quarter. Bank of New York Mellon Corp now owns 653,628 shares of the company’s stock worth $27,191,000 after buying an additional 61,358 shares during the period. Global X Management Co LLC purchased a new position in shares of Carvana in the second quarter worth about $124,000. California Public Employees Retirement System purchased a new position in shares of Carvana in the second quarter worth about $297,000. Millennium Management LLC purchased a new position in shares of Carvana in the second quarter worth about $966,000. Finally, MetLife Investment Advisors LLC increased its holdings in shares of Carvana by 90.1% in the second quarter. MetLife Investment Advisors LLC now owns 13,270 shares of the company’s stock worth $552,000 after buying an additional 6,289 shares during the period. Hedge funds and other institutional investors own 25.98% of the company’s stock.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.

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