Sigma Planning Corp Invests $228,000 in Carvana Co. (NYSE:CVNA)

Sigma Planning Corp acquired a new stake in shares of Carvana Co. (NYSE:CVNA) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,311 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds also recently bought and sold shares of the business. Ridgewood Investments LLC bought a new position in Carvana in the 2nd quarter worth about $32,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Carvana during the third quarter valued at approximately $32,000. Summit Securities Group LLC boosted its holdings in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the period. Capital Performance Advisors LLP bought a new position in Carvana in the third quarter worth approximately $40,000. Finally, Fifth Third Bancorp increased its holdings in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the period. Institutional investors own 56.71% of the company’s stock.

Insider Activity

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $155.94, for a total transaction of $15,594,000.00. Following the completion of the sale, the insider now directly owns 90,814 shares in the company, valued at approximately $14,161,535.16. The trade was a 52.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 208,495 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the sale, the chief financial officer now owns 90,732 shares in the company, valued at $20,362,982.76. The trade was a 69.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,527,249 shares of company stock valued at $453,021,322. Company insiders own 17.12% of the company’s stock.

Carvana Stock Up 0.2 %

NYSE:CVNA opened at $241.00 on Monday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana Co. has a twelve month low of $29.84 and a twelve month high of $259.39. The company has a market cap of $50.04 billion, a PE ratio of 24,124.12 and a beta of 3.37. The company’s 50 day moving average is $192.70 and its two-hundred day moving average is $150.16.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Carvana’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period last year, the firm earned $0.23 earnings per share. Analysts anticipate that Carvana Co. will post 0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CVNA shares. JPMorgan Chase & Co. lifted their price objective on Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Stephens assumed coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target for the company. BTIG Research increased their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC boosted their price objective on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Wedbush increased their target price on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Carvana presently has an average rating of “Hold” and a consensus price target of $217.71.

Carvana Company Profile

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.