Colonial River Investments LLC Invests $786,000 in Carvana Co. (NYSE:CVNA)

Colonial River Investments LLC acquired a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,515 shares of the company's stock, valued at approximately $786,000.

Other hedge funds also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of Carvana in the second quarter valued at $32,000. Sugarloaf Wealth Management LLC acquired a new position in Carvana during the third quarter worth $32,000. Summit Securities Group LLC raised its stake in Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company's stock worth $39,000 after acquiring an additional 3,300 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Carvana during the third quarter worth $40,000. Finally, Fifth Third Bancorp raised its stake in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company's stock worth $43,000 after acquiring an additional 275 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Carvana Stock Up 1.2 %

NYSE CVNA traded up $2.92 during trading on Friday, hitting $244.35. The stock had a trading volume of 1,951,480 shares, compared to its average volume of 3,363,386. The company has a market capitalization of $50.73 billion, a PE ratio of 24,435.00 and a beta of 3.37. The company's 50-day moving average price is $182.63 and its two-hundred day moving average price is $144.02. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana Co. has a 12 month low of $27.75 and a 12 month high of $259.39.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating 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 company's revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. As a group, sell-side analysts forecast that Carvana Co. will post 0.62 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, Director Gregory B. Sullivan sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total transaction of $1,175,000.00. Following the sale, the director now owns 53,407 shares in the company, valued at $12,550,645. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Gregory B. Sullivan sold 5,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total value of $1,175,000.00. Following the sale, the director now owns 53,407 shares in the company, valued at approximately $12,550,645. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $134.06, for a total value of $10,054,500.00. Following the completion of the sale, the insider now owns 940,814 shares in the company, valued at approximately $126,125,524.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,810,251 shares of company stock worth $494,577,629. Corporate insiders own 17.12% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVNA. Wedbush increased their price objective on Carvana from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Monday, October 7th. Needham & Company LLC raised their target price on Carvana from $200.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Royal Bank of Canada upgraded Carvana to a "sector perform" rating and raised their target price for the company from $166.00 to $170.00 in a research note on Monday, August 19th. Citigroup raised their target price on Carvana from $125.00 to $195.00 and gave the company a "neutral" rating in a research note on Thursday, October 3rd. Finally, Evercore ISI raised their target price on Carvana from $186.00 to $190.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.