Entropy Technologies LP Decreases Holdings in Carvana Co. (NYSE:CVNA)

Entropy Technologies LP cut its stake in Carvana Co. (NYSE:CVNA) by 83.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,867 shares of the company’s stock after selling 19,674 shares during the quarter. Entropy Technologies LP’s holdings in Carvana were worth $786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in shares of Carvana during the 4th quarter valued at about $34,000. Versant Capital Management Inc purchased a new stake in shares of Carvana during the fourth quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Carvana during the third quarter valued at approximately $40,000. First Horizon Advisors Inc. lifted its position in shares of Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after purchasing an additional 196 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Carvana by 37.6% in the fourth quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock valued at $65,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company cut their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and raised their price objective for the company from $195.00 to $277.00 in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 target price on shares of Carvana in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. increased their target price on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.29.

Insider Activity at Carvana

In other news, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction 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. The trade was a 18.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,845 shares of company stock worth $30,742,656 in the last 90 days. 17.12% of the stock is currently owned by company insiders.

Carvana Price Performance

Shares of NYSE:CVNA opened at $270.45 on Wednesday. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The firm has a 50-day simple moving average of $231.25 and a 200 day simple moving average of $201.27. Carvana Co. has a fifty-two week low of $48.15 and a fifty-two week high of $272.96. The company has a market cap of $56.15 billion, a PE ratio of 27,071.57 and a beta of 3.37.

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.