Carvana Co. (NYSE:CVNA) Stake Decreased by Tidal Investments LLC

Tidal Investments LLC trimmed its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 81.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,743 shares of the company's stock after selling 66,007 shares during the period. Tidal Investments LLC's holdings in Carvana were worth $2,567,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVNA. CWM LLC grew its holdings in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company's stock valued at $114,000 after purchasing an additional 144 shares during the period. Blue Trust Inc. acquired a new stake in shares of Carvana during the 2nd quarter worth $106,000. Raymond James & Associates raised its position in shares of Carvana by 154.1% in the 2nd quarter. Raymond James & Associates now owns 10,544 shares of the company's stock worth $1,357,000 after buying an additional 6,394 shares during the period. Fifth Third Bancorp boosted its holdings in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company's stock valued at $43,000 after acquiring an additional 275 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Carvana by 3,218.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the company's stock valued at $427,000 after acquiring an additional 3,218 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Up 3.0 %

Shares of CVNA stock traded up $7.44 during trading hours on Monday, hitting $255.69. 2,916,499 shares of the company were exchanged, compared to its average volume of 4,536,287. The stock has a market capitalization of $53.09 billion, a price-to-earnings ratio of 25,569.00 and a beta of 3.32. Carvana Co. has a one year low of $40.21 and a one year high of $268.34. The business's 50-day simple moving average is $230.16 and its two-hundred day simple moving average is $170.44. 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 (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates 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 company's quarterly revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. Sell-side analysts predict that Carvana Co. will post 0.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the insider now directly owns 40,058,131 shares in the company, valued at $6,209,010,305. The trade was a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the sale, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,071,908 shares of company stock valued at $395,374,785 over the last 90 days. 17.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVNA. JPMorgan Chase & Co. lifted their price objective on Carvana from $230.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Morgan Stanley raised shares of Carvana from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Evercore ISI increased their price objective on shares of Carvana from $240.00 to $245.00 and gave the stock an "in-line" rating in a research report on Tuesday, December 3rd. 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. Finally, Wells Fargo & Company raised their price objective on Carvana from $175.00 to $250.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Carvana presently has a consensus rating of "Hold" and a consensus target price of $222.71.

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.