Taylor Frigon Capital Management LLC Cuts Position in Carvana Co. (NYSE:CVNA)

Taylor Frigon Capital Management LLC reduced its stake in shares of Carvana Co. (NYSE:CVNA) by 32.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 19,530 shares of the company’s stock after selling 9,405 shares during the period. Carvana accounts for about 2.0% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 5th biggest position. Taylor Frigon Capital Management LLC’s holdings in Carvana were worth $3,972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CVNA. FMR LLC raised its stake in shares of Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Carvana during the third quarter valued at about $162,953,000. Lord Abbett & CO. LLC raised its stake in shares of Carvana by 1,454.1% during the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after purchasing an additional 503,824 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Carvana during the third quarter valued at about $50,531,000. Finally, Holocene Advisors LP raised its position in Carvana by 108.2% in the third quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock worth $96,476,000 after acquiring an additional 287,983 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ira J. Platt sold 25,000 shares of Carvana stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the completion of the sale, the director now directly owns 5,227 shares in the company, valued at $1,276,956.10. The trade was a 82.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the sale, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock worth $44,833,799 in the last three months. 17.18% of the stock is owned by insiders.

Carvana Trading Up 4.7 %

NYSE:CVNA opened at $232.08 on Thursday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The stock’s 50-day moving average is $232.88 and its two-hundred day moving average is $210.17. The stock has a market cap of $48.19 billion, a PE ratio of 147.82 and a beta of 3.37.

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

Analysts Set New Price Targets

Several brokerages have commented on CVNA. Stephens reiterated an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. DA Davidson boosted their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Finally, Evercore ISI lifted their price target on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $265.06.

Carvana 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.