Carvana Co. (NYSE:CVNA) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 7.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,803,546 shares of the company's stock after buying an additional 131,059 shares during the period. Geode Capital Management LLC owned 0.87% of Carvana worth $315,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana in the third quarter valued at $32,000. Capital Performance Advisors LLP bought a new position in shares of Carvana during the third quarter valued at approximately $40,000. Ridgewood Investments LLC purchased a new stake in Carvana in the second quarter worth $32,000. First Horizon Advisors Inc. lifted its position in shares of Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company's stock worth $44,000 after purchasing an additional 196 shares during the last quarter. Finally, Summit Securities Group LLC boosted its stake in shares of Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company's stock valued at $39,000 after purchasing an additional 3,300 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler raised their target price on shares of Carvana from $151.00 to $225.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Citigroup boosted their price target on Carvana from $125.00 to $195.00 and gave the stock a "neutral" rating in a research report on Thursday, October 3rd. Wedbush raised their price objective on Carvana from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Monday, October 7th. JMP Securities increased their price target on shares of Carvana from $200.00 to $320.00 and gave the company a "market outperform" rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price objective on shares of Carvana from $150.00 to $185.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Carvana currently has an average rating of "Hold" and a consensus target price of $222.71.

Carvana Stock Performance

NYSE:CVNA traded up $0.48 during mid-day trading on Friday, hitting $248.25. The company's stock had a trading volume of 1,233,211 shares, compared to its average volume of 4,543,033. The business's fifty day moving average is $228.64 and its two-hundred day moving average is $168.91. The stock has a market cap of $51.54 billion, a price-to-earnings ratio of 24,825.00 and a beta of 3.32. Carvana Co. has a 1 year low of $40.21 and a 1 year high of $268.34. 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 (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.47 billion. The firm's quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. Analysts anticipate that Carvana Co. will post 0.76 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, insider Ryan S. Keeton sold 24,845 shares of the company's stock in a transaction that occurred 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 $37,440,089.10. This represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the sale, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,071,908 shares of company stock valued at $395,374,785 in the last 90 days. 17.12% of the stock is currently owned by company insiders.

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.