Carvana Co. $CVNA Shares Sold by XTX Topco Ltd

XTX Topco Ltd lowered its position in Carvana Co. (NYSE:CVNA) by 89.4% during the second quarter, HoldingsChannel.com reports. The fund owned 1,996 shares of the company’s stock after selling 16,756 shares during the quarter. XTX Topco Ltd’s holdings in Carvana were worth $673,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Quadcap Wealth Management LLC acquired a new stake in Carvana in the second quarter valued at $461,000. Coldstream Capital Management Inc. raised its stake in shares of Carvana by 12.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 615 shares of the company’s stock worth $207,000 after buying an additional 69 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Carvana by 11.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 547,610 shares of the company’s stock worth $184,523,000 after buying an additional 56,736 shares in the last quarter. American Century Companies Inc. grew its stake in Carvana by 1,746.0% in the 2nd quarter. American Century Companies Inc. now owns 336,285 shares of the company’s stock valued at $113,315,000 after acquiring an additional 318,068 shares during the last quarter. Finally, Nemes Rush Group LLC increased its holdings in Carvana by 12,451.0% during the 2nd quarter. Nemes Rush Group LLC now owns 12,551 shares of the company’s stock valued at $4,229,000 after acquiring an additional 12,451 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Thomas Taira sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $375.01, for a total transaction of $3,750,100.00. Following the completion of the transaction, the insider owned 106,507 shares of the company’s stock, valued at approximately $39,941,190.07. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $376.07, for a total transaction of $4,794,892.50. Following the transaction, the chief financial officer directly owned 204,923 shares in the company, valued at approximately $77,065,392.61. This represents a 5.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 376,452 shares of company stock worth $137,631,540 over the last ninety days. Insiders own 16.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Carvana in a report on Monday. Needham & Company LLC restated a “buy” rating and set a $500.00 price objective on shares of Carvana in a research report on Monday, November 17th. Barclays initiated coverage on Carvana in a report on Tuesday, November 11th. They set an “overweight” rating and a $390.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on Carvana in a report on Friday, November 21st. They issued a “buy” rating and a $395.00 price target for the company. Finally, DA Davidson set a $360.00 price objective on Carvana in a research note on Thursday, October 30th. Eighteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $422.10.

Carvana Trading Up 1.9%

Shares of CVNA opened at $382.57 on Wednesday. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The company has a market capitalization of $83.22 billion, a PE ratio of 87.34, a price-to-earnings-growth ratio of 1.36 and a beta of 3.51. The stock has a fifty day moving average of $344.95 and a two-hundred day moving average of $344.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05.

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

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.