Carvana Co. (NYSE:CVNA) Holdings Reduced by Point72 DIFC Ltd

Point72 DIFC Ltd cut its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 40.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,969 shares of the company's stock after selling 10,765 shares during the period. Point72 DIFC Ltd's holdings in Carvana were worth $2,780,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CVNA. FMR LLC grew its stake 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 acquired a new position in shares of Carvana during the 2nd quarter valued at $67,686,000. Senator Investment Group LP acquired a new position in shares of Carvana during the 2nd quarter valued at $63,767,000. Driehaus Capital Management LLC lifted its holdings in shares of Carvana by 124.9% during 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 in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Carvana during the 2nd quarter valued at $39,997,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 208,495 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the completion of the transaction, the chief financial officer now owns 90,732 shares in the company, valued at approximately $20,362,982.76. This represents a 69.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $730,320.00. Following the completion of the transaction, 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. Insiders sold a total of 2,097,063 shares of company stock valued at $393,287,959 in the last quarter. Insiders own 17.12% of the company's stock.

Carvana Stock Down 1.7 %

Shares of Carvana stock traded down $4.40 during trading on Thursday, reaching $255.73. The company had a trading volume of 1,511,105 shares, compared to its average volume of 4,599,897. The company has a market cap of $53.10 billion, a price-to-earnings ratio of 26,033.03 and a beta of 3.32. The firm's fifty day moving average is $218.45 and its 200-day moving average is $162.25. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. 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 issued its 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 company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the company posted $0.23 EPS. The business's revenue for the quarter was up 31.8% compared to the same quarter last year. On average, analysts anticipate that Carvana Co. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

CVNA has been the topic of several recent research reports. Citigroup lifted their target price on shares of Carvana from $125.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday, October 3rd. Needham & Company LLC lifted their target price on shares of Carvana from $200.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Robert W. Baird lifted their target price on shares of Carvana from $160.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of Carvana from $230.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Finally, Bank of America boosted their price objective on shares of Carvana from $185.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Carvana has a consensus rating of "Hold" and an average target price of $220.94.

About Carvana

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.