255,800 Shares in Carvana Co. (NYSE:CVNA) Purchased by Avala Global LP

Avala Global LP bought a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 255,800 shares of the company's stock, valued at approximately $44,537,000. Carvana comprises approximately 2.9% of Avala Global LP's portfolio, making the stock its 15th largest position. Avala Global LP owned about 0.12% of Carvana as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVNA. Ridgewood Investments LLC bought a new stake in shares of Carvana in the 2nd quarter valued at about $32,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Carvana in the 3rd quarter valued at about $32,000. Summit Securities Group LLC lifted its stake in shares of Carvana by 110.0% in the 2nd 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 last quarter. Capital Performance Advisors LLP bought a new stake in shares of Carvana in the 3rd quarter valued at about $40,000. Finally, Fifth Third Bancorp lifted its stake in shares of Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company's stock valued at $43,000 after acquiring an additional 275 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

Shares of Carvana stock traded down $5.36 during trading on Monday, hitting $255.06. 2,273,510 shares of the company's stock traded hands, compared to its average volume of 4,636,155. 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 Co. has a 1 year low of $36.53 and a 1 year high of $268.34. The stock has a market capitalization of $52.96 billion, a P/E ratio of 26,155.16 and a beta of 3.37. The business has a 50-day simple moving average of $213.39 and a 200-day simple moving average of $159.62.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.47 billion. During the same period last year, the business earned $0.23 earnings per share. The company's quarterly revenue was up 31.8% on a year-over-year basis. As a group, analysts forecast that Carvana Co. will post 0.76 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 20,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total value of $4,835,600.00. Following the transaction, the chief financial officer now owns 170,732 shares of the company's stock, valued at $41,279,582.96. This trade represents a 10.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $135.73, for a total value of $10,179,750.00. Following the completion of the transaction, the insider now directly owns 40,583,131 shares in the company, valued at $5,508,348,370.63. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,118,063 shares of company stock valued at $389,949,579. 17.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVNA. Needham & Company LLC boosted their price target on Carvana from $200.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Wedbush boosted 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. JMP Securities boosted 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. Citigroup boosted their price target on Carvana from $125.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday, October 3rd. Finally, Piper Sandler boosted 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. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average 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.