14,335 Shares in Carvana Co. (NYSE:CVNA) Acquired by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in shares of Carvana Co. (NYSE:CVNA) in the third quarter, HoldingsChannel reports. The institutional investor bought 14,335 shares of the company’s stock, valued at approximately $2,496,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American International Group Inc. lifted its position in shares of Carvana by 6.6% during the 1st quarter. American International Group Inc. now owns 50,870 shares of the company’s stock valued at $4,472,000 after buying an additional 3,150 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Carvana by 21.2% during the first quarter. Lazard Asset Management LLC now owns 1,866 shares of the company’s stock valued at $163,000 after purchasing an additional 326 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Carvana by 1.3% in the first quarter. California State Teachers Retirement System now owns 97,707 shares of the company’s stock worth $8,589,000 after purchasing an additional 1,221 shares during the period. Motley Fool Asset Management LLC purchased a new stake in shares of Carvana in the first quarter worth $636,000. Finally, Tidal Investments LLC bought a new stake in shares of Carvana during the 1st quarter valued at $1,783,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Up 4.4 %

Shares of CVNA stock opened at $259.36 on Monday. The company has a market cap of $53.85 billion, a PE ratio of 25,961.96 and a beta of 3.37. Carvana Co. has a 1 year low of $29.84 and a 1 year high of $263.61. The stock’s 50 day simple moving average is $203.96 and its two-hundred day simple moving average is $154.76. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. Research analysts predict that Carvana Co. will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Piper Sandler increased their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised Carvana to a “sector perform” rating and boosted their price target for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Jefferies Financial Group increased their price objective on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Bank of America lifted their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $217.71.

Insider Transactions at Carvana

In related news, Director Gregory B. Sullivan sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total transaction of $1,175,000.00. Following the completion of the transaction, the director now owns 53,407 shares in the company, valued at $12,550,645. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction on 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 in the company, valued at approximately $52,484,640. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,318,063 shares of company stock worth $420,434,579. 17.12% of the stock is currently owned by insiders.

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.