Paloma Partners Management Co Has $696,000 Stock Position in Carvana Co. (NYSE:CVNA)

Paloma Partners Management Co cut its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 85.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,000 shares of the company's stock after selling 24,172 shares during the quarter. Paloma Partners Management Co's holdings in Carvana were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CVNA. FMR LLC raised its holdings in shares of Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company's stock valued at $2,152,311,000 after buying an additional 5,882,656 shares during the period. Sylebra Capital LLC bought a new stake in shares of Carvana in the 2nd quarter valued at approximately $67,686,000. Senator Investment Group LP bought a new stake in shares of Carvana in the 2nd quarter valued at approximately $63,767,000. Driehaus Capital Management LLC increased its holdings in shares of Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company's stock valued at $74,888,000 after acquiring an additional 323,153 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Carvana in the 2nd quarter valued at approximately $39,997,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the transaction, the chief financial officer now owns 189,761 shares in the company, valued at $48,402,338.27. The trade was a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Benjamin E. Huston sold 3,043 shares of the company's 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 sale, the chief operating officer now owns 218,686 shares of the company's stock, valued at approximately $52,484,640. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,172,063 shares of company stock valued at $403,916,959. Company insiders own 17.18% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CVNA shares. Morgan Stanley upgraded 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 report on Tuesday, November 5th. Royal Bank of Canada upgraded Carvana to a "sector perform" rating and boosted their price target for the company from $166.00 to $170.00 in a report on Monday, August 19th. Needham & Company LLC boosted their price objective on Carvana from $200.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Citigroup boosted their price objective on Carvana from $125.00 to $195.00 and gave the company a "neutral" rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Carvana from $230.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $220.94.

Carvana Trading Up 1.7 %

Shares of Carvana stock traded up $4.31 on Wednesday, reaching $260.07. 1,708,255 shares of the company were exchanged, compared to its average volume of 4,612,936. The stock has a fifty day moving average price of $216.65 and a 200-day moving average price of $161.56. The firm has a market capitalization of $54.00 billion, a price-to-earnings ratio of 25,579.58 and a beta of 3.32. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana Co. has a fifty-two week low of $36.53 and a fifty-two week high of $268.34.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping 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. The firm's revenue for the quarter was up 31.8% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. On average, analysts expect that Carvana Co. will post 0.76 EPS for the current year.

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.