Quantbot Technologies LP Boosts Position in Carvana Co. (NYSE:CVNA)

Quantbot Technologies LP grew its holdings in Carvana Co. (NYSE:CVNA) by 509.1% during the 3rd quarter, Holdings Channel reports. The fund owned 47,610 shares of the company’s stock after purchasing an additional 39,794 shares during the period. Quantbot Technologies LP’s holdings in Carvana were worth $8,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sugarloaf Wealth Management LLC acquired a new stake in Carvana during the 3rd quarter worth about $32,000. Capital Performance Advisors LLP acquired a new stake in Carvana during the third quarter worth about $40,000. Ridgewood Investments LLC purchased a new position in Carvana during the second quarter valued at approximately $32,000. First Horizon Advisors Inc. raised its position in Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after acquiring an additional 196 shares in the last quarter. Finally, Summit Securities Group LLC lifted its holdings in 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 acquiring an additional 3,300 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVNA shares. Needham & Company LLC lifted their target price on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. TD Cowen lifted their price objective on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Evercore ISI increased their target price on shares of Carvana from $186.00 to $190.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. DA Davidson raised their target price on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Carvana has an average rating of “Hold” and an average price target of $217.71.

Carvana Stock Up 0.6 %

Shares of NYSE CVNA opened at $260.80 on Tuesday. The stock has a market cap of $54.15 billion, a PE ratio of 26,106.11 and a beta of 3.37. 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 12-month low of $29.84 and a 12-month high of $268.34. The company has a 50-day moving average of $206.13 and a 200 day moving average of $155.75.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. As a group, sell-side analysts predict that Carvana Co. will post 0.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $155.69, for a total transaction of $15,569,000.00. Following the completion of the sale, the insider now owns 41,233,131 shares in the company, valued at $6,419,586,165.39. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 14,548 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total value of $2,880,504.00. Following the completion of the transaction, the insider now owns 119,494 shares in the company, valued at $23,659,812. This represents a 10.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,318,063 shares of company stock valued at $420,434,579 in the last three months. 17.18% of the stock is currently owned by insiders.

Carvana 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.