Frank Rimerman Advisors LLC Reduces Stock Position in Carvana Co. (NYSE:CVNA)

Frank Rimerman Advisors LLC lessened its holdings in Carvana Co. (NYSE:CVNA) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,682 shares of the company’s stock after selling 60 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Carvana were worth $342,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CVNA. FMR LLC grew its holdings in shares of Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. Lingotto Investment Management LLP grew its holdings in shares of Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after purchasing an additional 57,215 shares during the last quarter. State Street Corp grew its holdings in shares of Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after purchasing an additional 107,610 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Carvana by 7.8% during the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after purchasing an additional 131,059 shares during the last quarter. Finally, Whale Rock Capital Management LLC purchased a new position in shares of Carvana during the third quarter worth about $162,953,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

CVNA stock opened at $181.37 on Monday. The firm has a 50 day moving average of $228.94 and a 200-day moving average of $214.28. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market cap of $38.66 billion, a price-to-earnings ratio of 115.52 and a beta of 3.56.

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

Insider Activity

In other news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the firm’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 transaction, the insider now directly owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,784 shares of company stock worth $18,599,844. Company insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CVNA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. Stephens reissued an “overweight” rating and set a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Royal Bank of Canada raised their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Citigroup raised their price target on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.71.

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.