Soros Fund Management LLC Takes $2.82 Million Position in Carvana Co. (NYSE:CVNA)

Soros Fund Management LLC bought a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 16,181 shares of the company's stock, valued at approximately $2,817,000.

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC boosted its position in shares of Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company's stock worth $2,152,311,000 after buying an additional 5,882,656 shares during the period. Lingotto Investment Management LLP lifted its stake in Carvana by 1.4% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company's stock valued at $486,143,000 after acquiring an additional 52,833 shares in the last quarter. State Street Corp boosted its position in Carvana by 6.1% during the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company's stock worth $326,893,000 after acquiring an additional 107,610 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Carvana by 12.2% during the 2nd quarter. Renaissance Technologies LLC now owns 813,400 shares of the company's stock worth $104,701,000 after acquiring an additional 88,500 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company's stock valued at $74,888,000 after purchasing an additional 323,153 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

Shares of Carvana stock traded down $6.84 on Friday, hitting $248.89. The stock had a trading volume of 1,520,446 shares, compared to its average volume of 4,586,767. The stock has a market cap of $51.68 billion, a price-to-earnings ratio of 25,598.60 and a beta of 3.32. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a twelve month low of $36.53 and a twelve month high of $268.34. The business's 50 day moving average is $220.14 and its two-hundred day moving average is $162.90.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. The firm's quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Analysts forecast that Carvana Co. will post 0.76 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 208,495 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the sale, the chief financial officer now owns 90,732 shares in the company, valued at approximately $20,362,982.76. This trade represents a 69.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Benjamin E. Huston sold 3,043 shares of the company's stock in a transaction on 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 $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,097,063 shares of company stock worth $393,287,959 in the last quarter. 17.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wedbush increased their target price on shares of Carvana from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. Jefferies Financial Group raised their price objective on Carvana from $150.00 to $185.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Stephens began coverage on Carvana in a research report on Thursday, September 12th. They set an "overweight" rating and a $190.00 price target for the company. JPMorgan Chase & Co. raised their price target on Carvana from $230.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, Robert W. Baird upped their price objective on Carvana from $160.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Carvana currently has a consensus rating of "Hold" and a consensus price target of $220.94.

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.