Geode Capital Management LLC Has $315.13 Million Stock Position in Carvana Co. (NYSE:CVNA)

Geode Capital Management LLC grew its position in Carvana Co. (NYSE:CVNA) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,803,546 shares of the company’s stock after purchasing an additional 131,059 shares during the period. Geode Capital Management LLC owned about 0.87% of Carvana worth $315,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Asset Management Inc. acquired a new position in Carvana in the third quarter worth approximately $50,531,000. Driehaus Capital Management LLC increased its stake in shares of Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares during the last quarter. Swiss National Bank raised its holdings in shares of Carvana by 6.9% during the 3rd quarter. Swiss National Bank now owns 207,900 shares of the company’s stock valued at $36,197,000 after purchasing an additional 13,400 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in shares of Carvana by 89.2% in the 3rd quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock valued at $9,229,000 after purchasing an additional 24,996 shares during the last quarter. Finally, Colonial River Investments LLC bought a new stake in Carvana in the third quarter worth $786,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Piper Sandler increased their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stephens began coverage on shares of Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective for the company. Jefferies Financial Group lifted their target price on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, JMP Securities boosted their target price on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. 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 presently has a consensus rating of “Hold” and an average target price of $222.71.

Insider Transactions at Carvana

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the transaction, the insider now directly owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, the insider now directly owns 40,058,131 shares in the company, valued at approximately $6,209,010,305. The trade was a 0.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,071,908 shares of company stock valued at $395,374,785. Company insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of CVNA stock opened at $248.29 on Friday. Carvana Co. has a 12 month low of $40.21 and a 12 month high of $268.34. The company has a market capitalization of $51.55 billion, a P/E ratio of 24,829.00 and a beta of 3.32. The stock has a 50 day moving average of $228.64 and a two-hundred day moving average of $168.46. 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 (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the business earned $0.23 earnings per share. As a group, equities analysts expect that Carvana Co. will post 0.76 EPS for the current year.

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.