Versor Investments LP Sells 4,578 Shares of Carvana Co. $CVNA

Versor Investments LP reduced its stake in shares of Carvana Co. (NYSE:CVNA) by 76.5% during the third quarter, Holdings Channel reports. The institutional investor owned 1,410 shares of the company’s stock after selling 4,578 shares during the quarter. Versor Investments LP’s holdings in Carvana were worth $532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. ORG Partners LLC grew its position in Carvana by 8,700.0% during the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after acquiring an additional 87 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in Carvana in the third quarter valued at approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Carvana during the second quarter valued at approximately $38,000. Elevation Point Wealth Partners LLC bought a new position in shares of Carvana in the second quarter worth approximately $49,000. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Carvana by 28.3% in the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock worth $51,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 12,750 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $410.19, for a total value of $5,229,922.50. Following the sale, the chief financial officer directly owned 202,817 shares of the company’s stock, valued at $83,193,505.23. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Taira sold 1,047 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $398.54, for a total value of $417,271.38. Following the completion of the transaction, the insider owned 66,625 shares of the company’s stock, valued at approximately $26,552,727.50. This trade represents a 1.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 420,351 shares of company stock valued at $179,589,049 over the last ninety days. Insiders own 17.12% of the company’s stock.

Carvana Stock Performance

Carvana stock opened at $364.79 on Thursday. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $486.89. The stock’s 50 day simple moving average is $436.75 and its two-hundred day simple moving average is $382.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The stock has a market cap of $79.36 billion, a price-to-earnings ratio of 83.29, a PEG ratio of 0.95 and a beta of 3.57.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of recent analyst reports. BTIG Research upped their price target on shares of Carvana from $450.00 to $535.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Gordon Haskett lowered their price objective on shares of Carvana from $445.00 to $435.00 and set a “hold” rating for the company in a research note on Monday, January 5th. DA Davidson set a $360.00 target price on shares of Carvana in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Carvana in a report on Tuesday, January 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $460.00 price objective on shares of Carvana in a report on Thursday, October 30th. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $474.27.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.