Carvana Co. $CVNA is Mirabella Financial Services LLP’s 2nd Largest Position

Mirabella Financial Services LLP reduced its position in Carvana Co. (NYSE:CVNA) by 24.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,000 shares of the company’s stock after selling 30,000 shares during the quarter. Carvana accounts for about 3.3% of Mirabella Financial Services LLP’s holdings, making the stock its 2nd largest holding. Mirabella Financial Services LLP’s holdings in Carvana were worth $32,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cliffwater LLC purchased a new stake in shares of Carvana during the second quarter worth about $628,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Carvana by 19.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 800 shares of the company’s stock valued at $270,000 after buying an additional 129 shares in the last quarter. Invesco Ltd. grew its holdings in Carvana by 231.8% in the second quarter. Invesco Ltd. now owns 734,436 shares of the company’s stock worth $247,476,000 after purchasing an additional 513,092 shares during the period. 1832 Asset Management L.P. purchased a new stake in shares of Carvana in the 2nd quarter worth approximately $86,600,000. Finally, Sands Capital Management LLC raised its position in shares of Carvana by 1,374.3% in the 2nd quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock worth $303,677,000 after purchasing an additional 840,096 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other Carvana news, insider Ryan S. Keeton sold 32,370 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the transaction, the insider directly owned 115,456 shares in the company, valued at $34,830,766.08. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $375.00, for a total value of $5,625,000.00. Following the completion of the sale, the insider owned 83,018 shares of the company’s stock, valued at $31,131,750. This represents a 15.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 432,380 shares of company stock valued at $160,355,855 over the last 90 days. 17.12% of the stock is owned by insiders.

Carvana Stock Up 1.0%

Shares of CVNA opened at $399.10 on Friday. The firm has a market capitalization of $86.82 billion, a P/E ratio of 91.12, a P/E/G ratio of 1.43 and a beta of 3.51. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $413.33. The firm has a fifty day moving average price of $345.91 and a 200-day moving average price of $344.74. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company 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 quarterly revenue was up 54.5% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. Equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVNA. Zacks Research cut Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Barclays initiated coverage on Carvana in a research note on Tuesday, November 11th. They issued an “overweight” rating and a $390.00 price objective for the company. Wedbush raised Carvana from a “neutral” rating to an “outperform” rating and raised their price target for the company from $380.00 to $400.00 in a report on Monday, November 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $460.00 price objective on shares of Carvana in a report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Carvana in a research report on Friday, November 21st. They issued a “buy” rating and a $395.00 price target on the stock. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $422.10.

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.