Keybank National Association OH Sells 2,810 Shares of Carvana Co (NYSE:CVNA)

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Keybank National Association OH trimmed its holdings in shares of Carvana Co (NYSE:CVNA) by 28.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,189 shares of the company’s stock after selling 2,810 shares during the quarter. Keybank National Association OH’s holdings in Carvana were worth $474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Resources Investment Advisors LLC. lifted its holdings in Carvana by 150.0% during the second quarter. Resources Investment Advisors LLC. now owns 500 shares of the company’s stock valued at $31,000 after purchasing an additional 300 shares in the last quarter. Aperio Group LLC purchased a new position in shares of Carvana in the second quarter worth $75,000. FNY Investment Advisers LLC lifted its holdings in shares of Carvana by 12,800.0% in the second quarter. FNY Investment Advisers LLC now owns 1,290 shares of the company’s stock worth $80,000 after buying an additional 1,280 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Carvana in the second quarter worth $118,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Carvana in the second quarter worth $158,000. Institutional investors own 37.11% of the company’s stock.

CVNA stock opened at $78.66 on Friday. The company has a quick ratio of 0.92, a current ratio of 2.16 and a debt-to-equity ratio of 2.78. Carvana Co has a twelve month low of $28.44 and a twelve month high of $85.97. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of -45.47 and a beta of 2.20. The firm’s fifty day simple moving average is $74.42 and its two-hundred day simple moving average is $70.32.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.17). Carvana had a negative net margin of 3.59% and a negative return on equity of 57.46%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $997.46 million. During the same quarter last year, the firm earned ($0.40) EPS. The company’s revenue was up 104.7% on a year-over-year basis. As a group, equities research analysts expect that Carvana Co will post -2.09 EPS for the current year.

Several brokerages recently weighed in on CVNA. ValuEngine cut shares of Carvana from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. began coverage on shares of Carvana in a research report on Thursday, September 26th. They issued a “neutral” rating and a $75.00 price target on the stock. BMO Capital Markets boosted their price target on shares of Carvana from $65.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. Oppenheimer began coverage on shares of Carvana in a research report on Thursday, September 19th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, Cowen restated an “outperform” rating and issued a $85.00 price target (up previously from $81.00) on shares of Carvana in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Carvana has an average rating of “Hold” and an average target price of $79.40.

In other news, Director Ira J. Platt sold 1,300 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $84.50, for a total value of $109,850.00. Following the transaction, the director now directly owns 23,682 shares in the company, valued at $2,001,129. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ira J. Platt sold 10,700 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $84.51, for a total transaction of $904,257.00. Following the completion of the transaction, the director now owns 33,082 shares in the company, valued at $2,795,759.82. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $2,087,127 in the last quarter. Company insiders own 13.02% of the company’s stock.

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 proprietary 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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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