Carvana Co. (NYSE:CVNA) Shares Bought by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. boosted its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 236.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,450 shares of the company's stock after acquiring an additional 35,450 shares during the quarter. Carvana accounts for approximately 2.8% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 8th biggest position. PCJ Investment Counsel Ltd.'s holdings in Carvana were worth $8,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVNA. Sugarloaf Wealth Management LLC bought a new stake in shares of Carvana during the 3rd quarter worth $32,000. Capital Performance Advisors LLP purchased a new position in shares of Carvana in the 3rd quarter valued at about $40,000. Ridgewood Investments LLC acquired a new stake in Carvana in the 2nd quarter valued at about $32,000. Summit Securities Group LLC raised its position 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 in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Carvana by 450.8% during 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 in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Analysts Set New Price Targets

CVNA has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on shares of Carvana from $160.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Wells Fargo & Company raised their price target on Carvana from $175.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Bank of America upped their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. DA Davidson raised their price objective on Carvana from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada raised Carvana to a "sector perform" rating and increased their price target for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Carvana has an average rating of "Hold" and an average price target of $217.71.

Carvana Stock Down 1.9 %

CVNA traded down $4.64 during trading hours on Wednesday, hitting $244.79. 1,173,616 shares of the company's stock were exchanged, compared to its average volume of 4,681,082. The stock's 50-day moving average is $197.26 and its two-hundred day moving average is $151.96. Carvana Co. has a 1-year low of $29.84 and a 1-year high of $259.39. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $50.83 billion, a price-to-earnings ratio of 24,962.96 and a beta of 3.37.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.47 billion. During the same period in the previous year, the company earned $0.23 EPS. Carvana's revenue for the quarter was up 31.8% compared to the same quarter last year. Sell-side analysts predict that Carvana Co. will post 0.62 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction on Monday, November 4th. The stock was sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the transaction, the chief financial officer now owns 90,732 shares of the company's stock, valued at $20,362,982.76. The trade was a 69.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul W. Breaux sold 30,000 shares of Carvana stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.22, for a total transaction of $7,206,600.00. Following the completion of the sale, the insider now directly owns 135,025 shares of the company's stock, valued at approximately $32,435,705.50. The trade was a 18.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,427,249 shares of company stock worth $437,470,322. 17.18% of the stock is owned by 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.