Aigen Investment Management LP Cuts Stake in Carvana Co. (NYSE:CVNA)

Aigen Investment Management LP lessened its stake in shares of Carvana Co. (NYSE:CVNA) by 13.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,109 shares of the company’s stock after selling 2,038 shares during the quarter. Aigen Investment Management LP’s holdings in Carvana were worth $2,282,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CVNA. Ashton Thomas Private Wealth LLC lifted its stake in shares of Carvana by 999.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,330 shares of the company’s stock worth $232,000 after purchasing an additional 1,209 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Carvana in the 3rd quarter worth approximately $439,000. Entropy Technologies LP lifted its stake in shares of Carvana by 428.5% in the 3rd quarter. Entropy Technologies LP now owns 23,541 shares of the company’s stock worth $4,099,000 after purchasing an additional 19,087 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of Carvana by 5.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 39,281 shares of the company’s stock worth $6,839,000 after purchasing an additional 2,004 shares during the period. Finally, Colonial River Investments LLC bought a new position in shares of Carvana in the 3rd quarter worth approximately $786,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Down 1.0 %

Shares of Carvana stock traded down $2.56 on Tuesday, reaching $247.50. 163,268 shares of the company were exchanged, compared to its average volume of 4,754,380. Carvana Co. has a 1-year low of $27.75 and a 1-year high of $259.39. The company has a market cap of $51.39 billion, a P/E ratio of 25,027.03 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The stock’s 50 day moving average price is $184.61 and its 200-day moving average price is $145.72.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. As a group, equities analysts forecast that Carvana Co. will post 0.62 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, Director Ira J. Platt sold 664 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the sale, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $154.95, for a total transaction of $15,495,000.00. Following the transaction, the insider now owns 490,814 shares of the company’s stock, valued at $76,051,629.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira J. Platt sold 664 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total value of $99,600.00. Following the transaction, the director now directly owns 30,227 shares in the company, valued at $4,534,050. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,727,913 shares of company stock worth $483,483,922. 17.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVNA. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Wedbush lifted their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. TD Cowen lifted their price objective on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and lifted their price objective for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Finally, Bank of America lifted their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $217.71.

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.