Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Carvana Co. (NYSE:CVNA – Free Report) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 377,274 shares of the company’s stock after selling 21,260 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.20% of Carvana worth $3,694,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Morgan Stanley increased its position in shares of Carvana by 65.1% during the 4th quarter. Morgan Stanley now owns 14,083,153 shares of the company’s stock valued at $66,754,000 after purchasing an additional 5,554,691 shares during the period. Spruce House Investment Management LLC increased its position in shares of Carvana by 52.7% during the 4th quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after purchasing an additional 3,450,000 shares during the period. Vanguard Group Inc. increased its position in shares of Carvana by 46.8% during the 1st quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock valued at $870,511,000 after purchasing an additional 2,325,545 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Carvana in the 4th quarter worth $14,102,000. Finally, Thrive Capital Management LLC grew its holdings in shares of Carvana by 96.6% in the 4th quarter. Thrive Capital Management LLC now owns 2,948,220 shares of the company’s stock worth $13,975,000 after acquiring an additional 1,448,258 shares during the last quarter. 51.07% of the stock is currently owned by institutional investors and hedge funds.
Carvana Trading Down 4.9 %
CVNA opened at $38.37 on Wednesday. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of -3.11 and a beta of 3.16. Carvana Co. has a 1 year low of $3.55 and a 1 year high of $57.19. The stock has a fifty day moving average price of $36.14 and a 200 day moving average price of $19.51.
Wall Street Analyst Weigh In
CVNA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Carvana from $10.00 to $11.00 in a report on Monday, May 8th. Morgan Stanley lifted their target price on Carvana from $35.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, August 11th. Stephens lifted their target price on Carvana to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 25th. Robert W. Baird lifted their target price on Carvana from $10.00 to $45.00 in a report on Thursday, August 10th. Finally, Royal Bank of Canada cut Carvana from a “sector perform” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Thursday, July 20th. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $39.22.
Read Our Latest Stock Report on Carvana
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.
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