QRG Capital Management Inc. Sells 731 Shares of Carvana Co. (NYSE:CVNA)

QRG Capital Management Inc. cut its holdings in Carvana Co. (NYSE:CVNA) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,982 shares of the company’s stock after selling 731 shares during the period. QRG Capital Management Inc.’s holdings in Carvana were worth $1,216,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Versor Investments LP purchased a new stake in shares of Carvana during the fourth quarter valued at approximately $4,646,000. Proficio Capital Partners LLC bought a new stake in Carvana during the 4th quarter valued at $23,655,000. Oppenheimer & Co. Inc. boosted its position in Carvana by 19.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,289 shares of the company’s stock valued at $465,000 after buying an additional 374 shares during the period. Gulf International Bank UK Ltd purchased a new stake in Carvana during the 4th quarter valued at $1,438,000. Finally, Lingotto Investment Management LLP grew its holdings in Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after acquiring an additional 57,215 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 20,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the sale, the chief financial officer now owns 199,962 shares in the company, valued at $55,125,524.16. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,629 shares of company stock valued at $30,866,419. Insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of several recent analyst reports. Robert W. Baird upped their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday. JPMorgan Chase & Co. boosted their target price on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, DA Davidson raised their price target on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $265.06.

Carvana Price Performance

Shares of CVNA opened at $219.39 on Tuesday. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The firm’s 50-day simple moving average is $233.01 and its two-hundred day simple moving average is $212.38. The stock has a market cap of $45.55 billion, a PE ratio of 139.74 and a beta of 3.37. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

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

Carvana Company 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.