SG Americas Securities LLC Has $26.33 Million Stake in Carvana Co. $CVNA

SG Americas Securities LLC lowered its holdings in Carvana Co. (NYSE:CVNA) by 67.0% in the first quarter, Holdings Channel reports. The firm owned 83,752 shares of the company’s stock after selling 169,735 shares during the quarter. SG Americas Securities LLC’s holdings in Carvana were worth $26,330,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVNA. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Carvana during the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. bought a new position in shares of Carvana in the 4th quarter valued at about $29,000. Motiv8 Investments LLC bought a new position in shares of Carvana in the 4th quarter valued at about $33,000. Salomon & Ludwin LLC increased its position in shares of Carvana by 112.5% in the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock valued at $37,000 after acquiring an additional 45 shares during the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of Carvana in the third quarter valued at about $38,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Gordon Haskett increased their price target on Carvana from $67.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $92.00 price target on shares of Carvana in a research report on Friday, June 12th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price objective on shares of Carvana in a research note on Friday, June 5th. Robert W. Baird set a $88.00 price objective on Carvana in a report on Friday, May 15th. Finally, Stephens raised their target price on shares of Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.14.

Insider Buying and Selling

In related news, Director Ira J. Platt sold 15,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $67.83, for a total value of $1,017,450.00. Following the sale, the director owned 186,470 shares in the company, valued at approximately $12,648,260.10. This represents a 7.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.42, for a total value of $352,100.00. Following the sale, the vice president directly owned 152,955 shares of the company’s stock, valued at $10,771,091.10. This represents a 3.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 415,812 shares of company stock valued at $29,056,896. Insiders own 15.19% of the company’s stock.

Carvana Trading Up 4.6%

Shares of NYSE:CVNA opened at $67.80 on Thursday. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The company has a market capitalization of $74.36 billion, a P/E ratio of 41.24, a price-to-earnings-growth ratio of 10.94 and a beta of 3.45. The company has a 50-day simple moving average of $71.56 and a 200 day simple moving average of $74.87. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. Sell-side analysts forecast that Carvana Co. will post 1.58 earnings per share for the current year.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.