M&T Bank Corp Invests $1.19 Million in Carvana Co. (NYSE:CVNA)

M&T Bank Corp purchased a new stake in Carvana Co. (NYSE:CVNA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,809 shares of the company's stock, valued at approximately $1,185,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company's stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Whale Rock Capital Management LLC purchased a new position in Carvana during the third quarter worth about $162,953,000. Sylebra Capital LLC acquired a new stake in Carvana in the second quarter valued at about $67,686,000. Senator Investment Group LP purchased a new stake in Carvana in the 2nd quarter valued at approximately $63,767,000. Finally, Driehaus Capital Management LLC increased its position in Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company's stock worth $74,888,000 after purchasing an additional 323,153 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the sale, the chief operating officer now owns 218,686 shares in the company, valued at $52,484,640. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction dated 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 transaction, the insider now owns 151,029 shares in the company, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. 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 ninety days. Insiders own 17.12% of the company's stock.

Carvana Price Performance

NYSE:CVNA traded up $7.51 during trading hours on Monday, reaching $255.76. 2,824,281 shares of the company traded hands, compared to its average volume of 4,535,938. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm's 50-day moving average is $228.64 and its 200-day moving average is $169.36. The stock has a market cap of $53.10 billion, a P/E ratio of 25,133.00 and a beta of 3.32. Carvana Co. has a 1-year low of $40.21 and a 1-year high of $268.34.

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

Analyst Ratings Changes

CVNA has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Carvana from $230.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Wells Fargo & Company raised their target price on Carvana from $175.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 price target on shares of Carvana in a research note on Monday. Piper Sandler raised their price objective on shares of Carvana from $151.00 to $225.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Morgan Stanley raised shares of Carvana from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Carvana 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.