Jacobs Levy Equity Management Inc. Makes New Investment in Carvana Co. (NYSE:CVNA)

Jacobs Levy Equity Management Inc. acquired a new position in Carvana Co. (NYSE:CVNA - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,610 shares of the company's stock, valued at approximately $803,000.

Several other institutional investors have also bought and sold shares of the stock. Ridgewood Investments LLC acquired a new position in shares of Carvana in the 2nd quarter valued at about $32,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana in the 3rd quarter valued at about $32,000. Summit Securities Group LLC increased its holdings 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 purchasing an additional 3,300 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Carvana in the 3rd quarter valued at about $40,000. Finally, Fifth Third Bancorp increased its holdings 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 purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Stock Performance

Shares of CVNA traded down $7.56 during mid-day trading on Tuesday, hitting $236.47. The company's stock had a trading volume of 2,971,041 shares, compared to its average volume of 4,576,060. Carvana Co. has a one year low of $37.47 and a one year high of $268.34. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The firm has a market capitalization of $49.10 billion, a PE ratio of 23,646.50 and a beta of 3.32. The stock's 50-day moving average is $224.38 and its two-hundred day moving average is $166.35.

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

Insider Activity at Carvana

In related news, insider Daniel J. Gill sold 44,000 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now directly owns 191,225 shares in the company, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the insider now owns 40,058,131 shares of the company's stock, valued at $6,209,010,305. This represents a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,022,063 shares of company stock worth $383,108,209. 17.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CVNA has been the topic of a number of research reports. Robert W. Baird upped their target price on Carvana from $160.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Morgan Stanley raised Carvana from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Piper Sandler boosted their price target on Carvana from $151.00 to $225.00 and gave the company a "neutral" rating in a research note 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 research note on Monday, October 7th. Finally, Royal Bank of Canada raised Carvana to a "sector perform" rating and boosted their price target for the company from $166.00 to $170.00 in a research note on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $222.71.

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.