Carvana Co. (NYSE:CVNA) Shares Acquired by Holocene Advisors LP

Holocene Advisors LP raised its position in shares of Carvana Co. (NYSE:CVNA) by 108.2% during the 3rd quarter, Holdings Channel reports. The firm owned 554,112 shares of the company’s stock after buying an additional 287,983 shares during the quarter. Holocene Advisors LP’s holdings in Carvana were worth $96,476,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Centiva Capital LP purchased a new position in Carvana in the third quarter valued at $555,000. Avala Global LP purchased a new position in shares of Carvana in the 3rd quarter valued at about $44,537,000. Edgestream Partners L.P. raised its holdings in Carvana by 114.2% in the 3rd quarter. Edgestream Partners L.P. now owns 24,157 shares of the company’s stock worth $4,206,000 after purchasing an additional 12,880 shares during the period. JAT Capital Mgmt LP purchased a new position in Carvana during the third quarter worth approximately $13,338,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Carvana in the third quarter valued at approximately $6,616,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Up 0.3 %

Shares of NYSE:CVNA opened at $261.29 on Monday. Carvana Co. has a 1 year low of $36.53 and a 1 year high of $268.34. The firm has a market capitalization of $54.25 billion, a PE ratio of 26,068.07 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm’s 50-day moving average is $213.39 and its two-hundred day moving average is $159.35.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. Analysts predict that Carvana Co. will post 0.76 EPS for the current year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 170,732 shares of the company’s stock, valued at $41,279,582.96. This represents a 10.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory B. Sullivan sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the transaction, the director now directly owns 53,407 shares in the company, valued at approximately $12,550,645. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,118,063 shares of company stock worth $389,949,579 in the last quarter. 17.12% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup increased their target price on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and lifted their target price for the company from $166.00 to $170.00 in a research report on Monday, August 19th. JPMorgan Chase & Co. upped their price target on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Evercore ISI lifted 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. Finally, Piper Sandler lifted their price objective on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Carvana currently has an average rating of “Hold” and a consensus target price of $217.71.

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.