Schonfeld Strategic Advisors LLC Sells 2,028 Shares of Carvana Co. (NYSE:CVNA)

Schonfeld Strategic Advisors LLC cut its stake in shares of Carvana Co. (NYSE:CVNA) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,335 shares of the company’s stock after selling 2,028 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Carvana were worth $14,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CVNA. Lido Advisors LLC lifted its position in Carvana by 137.4% in the fourth quarter. Lido Advisors LLC now owns 4,632 shares of the company’s stock worth $942,000 after buying an additional 2,681 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Carvana by 30.3% during the 4th quarter. Northern Trust Corp now owns 650,696 shares of the company’s stock worth $132,326,000 after acquiring an additional 151,338 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Carvana by 16.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 199,542 shares of the company’s stock valued at $40,579,000 after acquiring an additional 28,153 shares during the period. Lord Abbett & CO. LLC grew its position in Carvana by 3.1% in the 4th quarter. Lord Abbett & CO. LLC now owns 554,928 shares of the company’s stock valued at $112,850,000 after acquiring an additional 16,455 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its stake in Carvana by 3.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 21,593 shares of the company’s stock worth $4,391,000 after purchasing an additional 729 shares during the period. 56.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares of the company’s stock, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $150.90, for a total value of $7,545,000.00. Following the sale, the chief operating officer now directly owns 123,803 shares in the company, valued at approximately $18,681,872.70. This trade represents a 28.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 330,810 shares of company stock worth $69,243,820. Company insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of CVNA opened at $243.59 on Wednesday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The company’s fifty day moving average price is $203.95 and its 200-day moving average price is $223.46. Carvana Co. has a 1-year low of $80.07 and a 1-year high of $292.84. The firm has a market capitalization of $51.93 billion, a PE ratio of 155.15 and a beta of 3.61.

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

Analysts Set New Price Targets

CVNA has been the topic of several recent analyst reports. Piper Sandler raised their price target on shares of Carvana from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. DA Davidson increased their price target on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Wedbush set a $250.00 price objective on Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada increased their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Robert W. Baird reduced their price target on shares of Carvana from $250.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.76.

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.