Two Sigma Advisers LP Sells 446,800 Shares of Carvana Co. (NYSE:CVNA)

Two Sigma Advisers LP reduced its stake in Carvana Co. (NYSE:CVNA - Free Report) by 18.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,950,035 shares of the company's stock after selling 446,800 shares during the quarter. Carvana comprises approximately 0.8% of Two Sigma Advisers LP's portfolio, making the stock its 29th biggest holding. Two Sigma Advisers LP owned approximately 0.94% of Carvana worth $339,521,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CVNA. FMR LLC raised its stake 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 acquiring an additional 5,882,656 shares in the last quarter. Sylebra Capital LLC purchased a new position in shares of Carvana during the second quarter worth approximately $67,686,000. Senator Investment Group LP purchased a new position in shares of Carvana during the second quarter worth approximately $63,767,000. Driehaus Capital Management LLC raised its stake in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company's stock worth $74,888,000 after acquiring an additional 323,153 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Carvana during the second quarter worth approximately $39,997,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVNA has been the topic of several analyst reports. Citigroup lifted their target price on shares of Carvana from $125.00 to $195.00 and gave the stock a "neutral" rating in a research note on Thursday, October 3rd. Wedbush lifted their target price on shares of Carvana from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Monday, October 7th. Stephens initiated coverage on shares of Carvana in a research note on Thursday, September 12th. They issued an "overweight" rating and a $190.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of Carvana from $230.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price target on shares of Carvana from $175.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $220.94.

Carvana Stock Down 2.8 %

Carvana stock traded down $7.14 during mid-day trading on Friday, reaching $248.59. The stock had a trading volume of 1,926,894 shares, compared to its average volume of 4,588,296. Carvana Co. has a one year low of $36.53 and a one year high of $268.34. The company has a 50-day moving average price of $220.14 and a two-hundred day moving average price of $162.90. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company has a market capitalization of $51.61 billion, a price-to-earnings ratio of 25,598.60 and a beta of 3.32.

Carvana (NYSE:CVNA - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $3.47 billion. During the same period last year, the firm posted $0.23 EPS. Carvana's quarterly revenue was up 31.8% compared to the same quarter last year. On average, analysts expect that Carvana Co. will post 0.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul W. Breaux sold 14,548 shares of the company's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the completion of the sale, the insider now owns 119,494 shares of the company's stock, valued at $23,659,812. This represents a 10.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $135.73, for a total value of $10,179,750.00. Following the transaction, the insider now owns 40,583,131 shares of the company's stock, valued at approximately $5,508,348,370.63. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,097,063 shares of company stock valued at $393,287,959. 17.12% of the stock is owned by insiders.

About Carvana

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.