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

Qsemble Capital Management LP trimmed its holdings in Carvana Co. (NYSE:CVNA) by 88.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Eagle Asset Management Inc. bought a new stake in Carvana in the 3rd quarter worth about $50,531,000. Driehaus Capital Management LLC increased its holdings in Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after buying an additional 323,153 shares in the last quarter. Swiss National Bank increased its holdings in Carvana by 6.9% in the 3rd quarter. Swiss National Bank now owns 207,900 shares of the company’s stock worth $36,197,000 after buying an additional 13,400 shares in the last quarter. Integrated Advisors Network LLC increased its holdings in Carvana by 89.2% in the 3rd quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock worth $9,229,000 after buying an additional 24,996 shares in the last quarter. Finally, Colonial River Investments LLC bought a new stake in Carvana in the 3rd quarter worth about $786,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Price Performance

CVNA opened at $254.84 on Thursday. The business’s 50-day moving average is $208.11 and its two-hundred day moving average is $156.73. Carvana Co. has a 1 year low of $29.84 and a 1 year high of $268.34. 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 firm has a market capitalization of $52.91 billion, a PE ratio of 25,484.00 and a beta of 3.37.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the firm earned $0.23 EPS. Carvana’s revenue for the quarter was up 31.8% on a year-over-year basis. Research analysts anticipate that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the sale, the chief operating officer now owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 208,495 shares of the firm’s 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 sale, 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 corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Needham & Company LLC lifted their price objective on Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their price target on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their price target on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. JMP Securities boosted their price target on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Finally, Citigroup boosted their price target on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.