Carvana Co. (NYSE:CVNA) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can increased its position in Carvana Co. (NYSE:CVNA) by 17.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 239,336 shares of the company’s stock after purchasing an additional 35,922 shares during the period. Bank of Montreal Can owned 0.12% of Carvana worth $40,634,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Lingotto Investment Management LLP boosted its stake in Carvana by 1.4% in the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares during the period. Renaissance Technologies LLC raised its holdings in Carvana by 12.2% during the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock worth $104,701,000 after purchasing an additional 88,500 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after buying an additional 323,153 shares in the last quarter. Sylebra Capital LLC bought a new position in shares of Carvana in the second quarter valued at $67,686,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Carvana by 14.3% in the second quarter. Point72 Asset Management L.P. now owns 511,333 shares of the company’s stock valued at $65,819,000 after buying an additional 63,792 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Trading Down 0.4 %

NYSE CVNA opened at $254.97 on Friday. Carvana Co. has a 1-year low of $29.84 and a 1-year high of $268.34. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The company has a market capitalization of $52.94 billion, a PE ratio of 25,497.00 and a beta of 3.37. The firm’s fifty day simple moving average is $209.98 and its 200-day simple moving average is $157.41.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share 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 analyst estimates of $3.47 billion. During the same period last year, the company posted $0.23 earnings per share. The company’s revenue was up 31.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JMP Securities upped their price target on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. BTIG Research upped their price target on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group upped their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Wedbush upped their price target on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, Bank of America boosted their target price on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $217.71.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the transaction, the insider now directly owns 40,058,131 shares of the company’s stock, valued at $6,209,010,305. This represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 20,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the transaction, the chief financial officer now directly owns 170,732 shares in the company, valued at $41,279,582.96. The trade was a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,118,063 shares of company stock valued at $389,949,579. 17.12% of the stock is 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.