Abel Hall LLC Trims Position in Carvana Co. $CVNA

Abel Hall LLC trimmed its position in Carvana Co. (NYSE:CVNA) by 10.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 989 shares of the company’s stock after selling 117 shares during the period. Abel Hall LLC’s holdings in Carvana were worth $333,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD boosted its position in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after buying an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. increased its stake in Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Carvana in the 1st quarter worth approximately $71,856,000. Contour Asset Management LLC boosted its holdings in Carvana by 71.4% during the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock valued at $134,462,000 after acquiring an additional 267,994 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Carvana by 54.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 592,582 shares of the company’s stock valued at $123,897,000 after acquiring an additional 209,975 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Carvana

In other news, insider Daniel J. Gill sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the sale, the insider owned 197,832 shares of the company’s stock, valued at $78,917,163.12. The trade was a 28.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $352.40, for a total value of $35,240,000.00. Following the sale, the insider directly owned 35,892,792 shares in the company, valued at $12,648,619,900.80. This trade represents a 0.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,099,966 shares of company stock worth $755,642,066 in the last quarter. Company insiders own 17.12% of the company’s stock.

Carvana Stock Down 2.6%

Carvana stock opened at $360.80 on Thursday. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $413.33. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The stock has a market cap of $77.64 billion, a PE ratio of 90.43, a P/E/G ratio of 1.21 and a beta of 3.55. The stock’s fifty day moving average is $366.54 and its two-hundred day moving average is $312.80.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned ($0.05) EPS. The business’s quarterly revenue was up 41.9% on a year-over-year basis. On average, sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of research analyst reports. Gordon Haskett started coverage on Carvana in a research report on Monday, July 14th. They set a “hold” rating and a $329.00 target price for the company. Evercore ISI upped their target price on Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 12th. Piper Sandler increased their price target on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Carvana in a report on Saturday, September 27th. Finally, DA Davidson increased their price target on Carvana from $260.00 to $380.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $404.94.

Carvana Profile

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.