Aigen Investment Management LP Sells 2,038 Shares of Carvana Co. (NYSE:CVNA)

Aigen Investment Management LP cut its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 13.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,109 shares of the company's stock after selling 2,038 shares during the quarter. Aigen Investment Management LP's holdings in Carvana were worth $2,282,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CVNA. Forum Financial Management LP raised its position in shares of Carvana by 3.8% during the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company's stock valued at $361,000 after acquiring an additional 76 shares during the last quarter. Empirical Asset Management LLC increased its holdings in Carvana by 2.0% in the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company's stock worth $890,000 after purchasing an additional 100 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Carvana by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company's stock valued at $402,000 after acquiring an additional 130 shares during the last quarter. CWM LLC increased its stake in shares of Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company's stock valued at $114,000 after acquiring an additional 144 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Carvana by 32.8% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the company's stock worth $106,000 after buying an additional 150 shares during the period. Institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BTIG Research upped their price target on Carvana from $155.00 to $188.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. JMP Securities lifted their price objective on Carvana from $200.00 to $320.00 and gave the company a "market outperform" rating in a research report on Thursday, October 31st. Citigroup upped 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. TD Cowen raised their target price on Carvana from $110.00 to $148.00 and gave the company a "hold" rating in a research report on Thursday, August 1st. Finally, Bank of America lifted their price objective on 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $217.71.

Carvana Trading Down 1.3 %

Shares of CVNA traded down $3.36 during mid-day trading on Tuesday, reaching $246.70. The company's stock had a trading volume of 1,929,450 shares, compared to its average volume of 4,762,443. 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's fifty day moving average price is $184.61 and its two-hundred day moving average price is $145.72. The stock has a market cap of $51.22 billion, a PE ratio of 25,027.03 and a beta of 3.37. Carvana Co. has a 52 week low of $27.75 and a 52 week high of $259.39.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company posted $0.23 EPS. Carvana's revenue was up 31.8% on a year-over-year basis. On average, analysts predict that Carvana Co. will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, Director Ira J. Platt sold 664 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the transaction, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Ira J. Platt sold 664 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the sale, the director now directly owns 30,227 shares in the company, valued at $4,534,050. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 20,000 shares of the business'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 value of $4,835,600.00. Following the sale, the chief financial officer now owns 170,732 shares of the company's stock, valued at $41,279,582.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,727,913 shares of company stock valued at $483,483,922 in the last three months. 17.12% of the stock is currently owned by corporate insiders.

About Carvana

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.