Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,520 shares of the company's stock, valued at approximately $439,000.
Several other hedge funds have also added to or reduced their stakes in the business. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana during the third quarter valued at about $32,000. Capital Performance Advisors LLP bought a new stake in Carvana during the 3rd quarter valued at $40,000. Ridgewood Investments LLC bought a new position in Carvana during the 2nd quarter worth about $32,000. Summit Securities Group LLC increased its holdings in Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company's stock valued at $39,000 after buying an additional 3,300 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company's stock worth $43,000 after acquiring an additional 275 shares in the last quarter. 56.71% of the stock is owned by institutional investors.
Carvana Stock Down 2.0 %
Shares of CVNA stock traded down $5.05 during trading hours on Wednesday, hitting $244.38. 1,797,679 shares of the company's stock traded hands, compared to its average volume of 4,683,854. The stock has a market cap of $50.74 billion, a price-to-earnings ratio of 24,462.46 and a beta of 3.37. The stock's fifty day simple moving average is $199.47 and its two-hundred day simple moving average is $152.61. Carvana Co. has a 12-month low of $29.84 and a 12-month 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.
Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The company 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 firm earned $0.23 earnings per share. The firm's revenue for the quarter was up 31.8% on a year-over-year basis. On average, analysts expect that Carvana Co. will post 0.62 EPS for the current year.
Insider Buying and Selling
In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 218,686 shares in the company, valued at approximately $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 208,495 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $224.43, for a total value of $46,792,532.85. Following the transaction, the chief financial officer now owns 90,732 shares in the company, valued at $20,362,982.76. The trade was a 69.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,427,249 shares of company stock worth $437,470,322 in the last three months. 17.18% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of analysts have recently commented on CVNA shares. TD Cowen upped their target price on Carvana from $110.00 to $148.00 and gave the stock a "hold" rating in a research note on Thursday, August 1st. Jefferies Financial Group boosted their target price on Carvana from $150.00 to $185.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. BTIG Research raised their price target on Carvana from $155.00 to $188.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. DA Davidson lifted their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Thursday, August 1st. Finally, Bank of America increased their price target on 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 company's stock. Based on data from MarketBeat, Carvana currently has a consensus rating of "Hold" and a consensus target price of $217.71.
Check Out Our Latest Analysis on CVNA
About Carvana
(
Free Report)
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.
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