Carvana Co. (NYSE:CVNA) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its stake in Carvana Co. (NYSE:CVNA) by 39.8% in the 3rd quarter, Holdings Channel reports. The firm owned 27,731 shares of the company’s stock after purchasing an additional 7,897 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Carvana were worth $4,828,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in Carvana in the second quarter valued at about $32,000. Sugarloaf Wealth Management LLC purchased a new stake in Carvana during the third quarter worth $32,000. Summit Securities Group LLC boosted its position in Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp grew its holdings in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Carvana in the second quarter valued at $51,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Up 19.3 %

NYSE CVNA opened at $247.31 on Friday. The company has a 50-day moving average of $172.95 and a 200-day moving average of $136.66. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $259.39. The company has a market cap of $50.10 billion, a P/E ratio of 108.47 and a beta of 3.44.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. As a group, equities analysts predict that Carvana Co. will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other news, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total value of $2,880,504.00. Following the transaction, the insider now directly owns 119,494 shares of the company’s stock, valued at $23,659,812. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the transaction, the insider now owns 119,494 shares in the company, valued at approximately $23,659,812. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 15,814 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $201.16, for a total value of $3,181,144.24. Following the completion of the sale, the insider now owns 37,442,317 shares of the company’s stock, valued at approximately $7,531,896,487.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,705,891 shares of company stock valued at $455,601,985. Company insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the topic of a number of research reports. Needham & Company LLC increased their price objective on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America raised their price objective on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley upped their target price on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Finally, BTIG Research boosted their price target on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus price target of $208.88.

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.