Headlands Technologies LLC Sells 16,258 Shares of Carvana Co. (NYSE:CVNA)

Headlands Technologies LLC reduced its holdings in shares of Carvana Co. (NYSE:CVNA) by 66.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,164 shares of the company’s stock after selling 16,258 shares during the quarter. Headlands Technologies LLC’s holdings in Carvana were worth $1,660,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quent Capital LLC acquired a new stake in Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC boosted its stake in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of Carvana in the 4th quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Carvana in the fourth quarter valued at about $34,000. Finally, Versant Capital Management Inc bought a new stake in Carvana during the fourth quarter worth about $42,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CVNA shares. Needham & Company LLC restated a “buy” rating and issued a $340.00 price target on shares of Carvana in a research note on Friday, March 7th. Royal Bank of Canada boosted their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “overweight” rating in a research note on Monday. Finally, Bank of America dropped their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $261.53.

Carvana Stock Up 1.4 %

CVNA stock opened at $212.05 on Wednesday. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a market capitalization of $45.20 billion, a price-to-earnings ratio of 135.06 and a beta of 3.56. The business’s fifty day moving average price is $226.42 and its two-hundred day moving average price is $219.06.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity

In related news, insider Thomas Taira sold 27,593 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the completion of the sale, the insider now owns 179,673 shares of the company’s stock, valued at $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,377 shares of company stock worth $44,251,096. Corporate insiders own 17.12% 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 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.