Qsemble Capital Management LP Sells 13,074 Shares of Carvana Co. (NYSE:CVNA)

Qsemble Capital Management LP lowered its stake in shares of Carvana Co. (NYSE:CVNA) by 88.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,737 shares of the company’s stock after selling 13,074 shares during the quarter. Qsemble Capital Management LP’s holdings in Carvana were worth $302,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. bought a new position in Carvana during the third quarter valued at about $50,531,000. Driehaus Capital Management LLC grew its position in Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after buying an additional 323,153 shares during the period. Swiss National Bank grew its position in Carvana by 6.9% during the third quarter. Swiss National Bank now owns 207,900 shares of the company’s stock valued at $36,197,000 after buying an additional 13,400 shares during the period. Integrated Advisors Network LLC lifted its holdings in Carvana by 89.2% during the third quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock valued at $9,229,000 after purchasing an additional 24,996 shares during the last quarter. Finally, Colonial River Investments LLC purchased a new stake in Carvana during the third quarter valued at about $786,000. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of Carvana stock opened at $254.84 on Thursday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The firm has a market capitalization of $52.91 billion, a P/E ratio of 25,484.00 and a beta of 3.37. The business has a fifty day simple moving average of $208.11 and a two-hundred day simple moving average of $156.73. Carvana Co. has a 12 month low of $29.84 and a 12 month high of $268.34.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. On average, equities analysts forecast that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup upped their price objective on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their price objective on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America upped their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI upped their price objective on shares of Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Piper Sandler increased their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $217.71.

Insider Buying and Selling at Carvana

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $135.73, for a total value of $10,179,750.00. Following the completion of the transaction, the insider now owns 40,583,131 shares of the company’s stock, valued at $5,508,348,370.63. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $224.43, for a total value of $46,792,532.85. Following the completion of the transaction, the chief financial officer now directly owns 90,732 shares of the company’s stock, valued at approximately $20,362,982.76. This represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,218,063 shares of company stock valued at $404,865,579. 17.12% of the stock is currently owned by company insiders.

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.