Pelham Capital Ltd. Invests $7.78 Million in Carvana Co. (NYSE:CVNA)

Pelham Capital Ltd. bought a new stake in Carvana Co. (NYSE:CVNA - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 44,700 shares of the company's stock, valued at approximately $7,783,000. Carvana makes up about 4.6% of Pelham Capital Ltd.'s investment portfolio, making the stock its 8th biggest position.

Several other hedge funds have also bought and sold shares of CVNA. Empirical Asset Management LLC lifted its position 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 buying an additional 100 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Carvana by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company's stock worth $402,000 after acquiring an additional 130 shares during the last quarter. CWM LLC lifted its holdings in shares of Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company's stock worth $114,000 after acquiring an additional 144 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Carvana by 32.8% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the company's stock valued at $106,000 after purchasing an additional 150 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in shares of Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company's stock valued at $1,333,000 after purchasing an additional 182 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Down 0.3 %

Shares of CVNA stock traded down $0.61 during mid-day trading on Friday, reaching $191.31. 1,923,048 shares of the company's stock traded hands, compared to its average volume of 4,862,900. The company's 50-day moving average price is $162.78 and its 200-day moving average price is $128.85. The company has a market cap of $38.75 billion, a P/E ratio of 83.91 and a beta of 3.44. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $196.36.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. On average, equities analysts expect that Carvana Co. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 5,000 shares of the business's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total value of $730,700.00. Following the sale, the chief financial officer now directly owns 180,609 shares of the company's stock, valued at approximately $26,394,199.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction dated 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 approximately $4,534,050. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 5,000 shares of the business's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $146.14, for a total value of $730,700.00. Following the completion of the transaction, the chief financial officer now directly owns 180,609 shares of the company's stock, valued at approximately $26,394,199.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,809,366 shares of company stock worth $446,050,909 in the last 90 days. Insiders own 17.12% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. BTIG Research upped their price target on shares of Carvana from $155.00 to $188.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Wedbush raised their price target on Carvana from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Monday, October 7th. Piper Sandler boosted their price objective on Carvana from $105.00 to $151.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Bank of America raised their target price on shares of Carvana from $185.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, DA Davidson upped their price target on shares of Carvana from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Carvana presently has a consensus rating of "Hold" and a consensus price target of $171.76.

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.