Carvana Co. $CVNA Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Carvana Co. (NYSE:CVNA) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,337,060 shares of the company’s stock after selling 154,718 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.12% of Carvana worth $83,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Ascentis Independent Advisors bought a new position in shares of Carvana during the first quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares during the last quarter. Transamerica Financial Advisors LLC increased its holdings in Carvana by 558.0% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock worth $30,000 after buying an additional 385 shares in the last quarter. GoalVest Advisory LLC increased its holdings in Carvana by 400.0% in the 2nd quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock worth $33,000 after buying an additional 400 shares in the last quarter. Finally, Cypress Capital Management LLC WY increased its holdings in Carvana by 400.0% in the 2nd quarter. Cypress Capital Management LLC WY now owns 500 shares of the company’s stock worth $33,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of CVNA opened at $71.38 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.05 and a quick ratio of 2.43. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The firm has a market capitalization of $78.55 billion, a P/E ratio of 35.84, a PEG ratio of 1.85 and a beta of 3.66. The business has a fifty day moving average of $65.81 and a 200 day moving average of $69.20.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). Carvana had a net margin of 6.21% and a return on equity of 34.77%. The firm had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same period in the prior year, the company posted $1.03 EPS. The firm’s revenue was up 42.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana Co. will post 1.59 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $71.78, for a total value of $4,575,975.00. Following the transaction, the chief financial officer owned 1,135,486 shares of the company’s stock, valued at approximately $81,505,185.08. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,520 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $68.88, for a total transaction of $1,000,137.60. Following the completion of the transaction, the director directly owned 214,960 shares in the company, valued at approximately $14,806,444.80. The trade was a 6.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 606,320 shares of company stock worth $42,716,866. 15.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Bank of America restated a “neutral” rating on shares of Carvana in a research note on Thursday, October 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Carvana in a research note on Thursday, October 29th. Evercore set a $75.00 price target on shares of Carvana in a research note on Thursday, July 30th. Citigroup reissued a “market outperform” rating on shares of Carvana in a report on Wednesday, October 28th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $75.00 price objective (down from $80.00) on shares of Carvana in a research report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.09.

Carvana News Roundup

Here are the key news stories impacting Carvana this week:

• Neutral Sentiment: CFO Mark Jenkins sold 63,750 shares and VP Stephen Palmer sold 5,000 shares. Both transactions were made under pre-arranged Rule 10b5-1 plans, which can make them less indicative of a change in the executives’ outlook. Jenkins SEC filing Palmer SEC filing
• Negative Sentiment: Other reported sales included insider Daniel Gill’s 253,639 shares, plus sales by directors J. Quayle and Ira Platt. The sales add to concerns about insider sentiment, although the filings do not establish the sellers’ reasons. Gill SEC filing
• Negative Sentiment: Analysts trimmed growth assumptions, resulting in a lower fair-value estimate for Carvana. This could weigh on the stock by tempering expectations for future performance. Carvana fair-value article

Carvana Profile

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.