Quest Partners LLC Has $1.43 Million Stake in Carvana Co. (NYSE:CVNA)

Quest Partners LLC grew its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 951.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,201 shares of the company's stock after acquiring an additional 7,421 shares during the quarter. Quest Partners LLC's holdings in Carvana were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Swiss National Bank raised its stake in shares of Carvana by 6.9% in the third quarter. Swiss National Bank now owns 207,900 shares of the company's stock valued at $36,197,000 after purchasing an additional 13,400 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Carvana by 2.6% in the third quarter. Natixis Advisors LLC now owns 80,885 shares of the company's stock valued at $14,083,000 after purchasing an additional 2,054 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Carvana in the third quarter valued at $494,000. CIBC Asset Management Inc raised its stake in shares of Carvana by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company's stock valued at $586,000 after purchasing an additional 115 shares in the last quarter. Finally, Diversified Portfolios Inc. raised its stake in shares of Carvana by 20.7% in the third quarter. Diversified Portfolios Inc. now owns 3,832 shares of the company's stock valued at $667,000 after purchasing an additional 657 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 9,186 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $156.95, for a total transaction of $1,441,742.70. Following the completion of the sale, the insider now owns 41,433,131 shares of the company's stock, valued at $6,502,929,910.45. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory B. Sullivan sold 5,000 shares of the firm's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total value of $1,175,000.00. Following the sale, the director now directly owns 53,407 shares of the company's stock, valued at $12,550,645. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,427,249 shares of company stock worth $437,470,322 in the last three months. Insiders own 17.18% of the company's stock.

Carvana Trading Down 2.0 %

Shares of NYSE:CVNA traded down $4.93 during mid-day trading on Wednesday, reaching $244.50. The stock had a trading volume of 1,797,191 shares, compared to its average volume of 4,683,854. The firm has a 50 day simple moving average of $197.26 and a two-hundred day simple moving average of $151.96. Carvana Co. has a twelve month low of $29.84 and a twelve month high of $259.39. The firm has a market cap of $50.77 billion, a PE ratio of 24,962.96 and a beta of 3.37. 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 released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The business's revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. On average, research analysts predict that Carvana Co. will post 0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JMP Securities increased their price objective on Carvana from $200.00 to $320.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 31st. Bank of America increased their price objective on Carvana from $185.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. TD Cowen increased their price objective on Carvana from $110.00 to $148.00 and gave the stock a "hold" rating in a research note on Thursday, August 1st. Morgan Stanley upgraded Carvana from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price objective on Carvana from $230.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Carvana currently has a consensus rating of "Hold" and an average target price of $217.71.

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.