Quadrature Capital Ltd Has $6.02 Million Stock Position in Carvana Co. (NYSE:CVNA)

Quadrature Capital Ltd increased its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 268.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,568 shares of the company's stock after acquiring an additional 25,174 shares during the quarter. Quadrature Capital Ltd's holdings in Carvana were worth $6,015,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Cetera Investment Advisers grew its stake in Carvana by 171.7% during the 1st quarter. Cetera Investment Advisers now owns 20,862 shares of the company's stock valued at $1,834,000 after acquiring an additional 13,185 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Carvana during the 1st quarter worth about $461,000. GAMMA Investing LLC raised its stake in shares of Carvana by 127.9% during the 2nd quarter. GAMMA Investing LLC now owns 458 shares of the company's stock worth $59,000 after purchasing an additional 257 shares in the last quarter. CWM LLC raised its stake in shares of Carvana by 19.5% during the 2nd quarter. CWM LLC now owns 883 shares of the company's stock worth $114,000 after purchasing an additional 144 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of Carvana during the 2nd quarter worth about $280,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Trading Down 1.8 %

Shares of CVNA traded down $4.62 during trading hours on Friday, hitting $251.11. 2,729,756 shares of the stock traded hands, compared to its average volume of 4,591,978. The business has a fifty day moving average of $220.14 and a 200-day moving average of $162.90. The firm has a market capitalization of $52.14 billion, a PE ratio of 25,598.60 and a beta of 3.32. Carvana Co. has a 1-year low of $36.53 and a 1-year high of $268.34. 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 (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the firm earned $0.23 earnings per share. The company's quarterly revenue was up 31.8% on a year-over-year basis. Analysts expect that Carvana Co. will post 0.76 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVNA. Piper Sandler raised their price objective on Carvana from $151.00 to $225.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Bank of America raised their price objective on Carvana from $185.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Morgan Stanley raised Carvana from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Evercore ISI raised their price objective on Carvana from $240.00 to $245.00 and gave the company an "in-line" rating in a research note on Tuesday. Finally, JMP Securities raised their price objective on Carvana from $200.00 to $320.00 and gave the company a "market outperform" rating in a research note on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Carvana has a consensus rating of "Hold" and an average target price of $220.94.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the sale, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction 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. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,097,063 shares of company stock worth $393,287,959. 17.12% of the stock is currently owned by company insiders.

Carvana Company 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.