US Bancorp DE Boosts Stock Position in Carvana Co. (NYSE:CVNA)

US Bancorp DE lifted its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 80.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,342 shares of the company's stock after buying an additional 4,599 shares during the quarter. US Bancorp DE's holdings in Carvana were worth $1,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company's stock valued at $655,727,000 after buying an additional 2,112,463 shares in the last quarter. Sylebra Capital LLC bought a new position in Carvana during the second quarter worth about $67,686,000. Senator Investment Group LP acquired a new stake in Carvana in the 2nd quarter worth about $63,767,000. Driehaus Capital Management LLC boosted its holdings in Carvana by 124.9% in the 2nd 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 period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Carvana during the 2nd quarter worth approximately $39,997,000. Institutional investors own 56.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CVNA shares. Needham & Company LLC boosted their price target on Carvana from $200.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. BTIG Research boosted their target price on shares of Carvana from $155.00 to $188.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Piper Sandler increased their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price objective on shares of Carvana from $150.00 to $185.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. Finally, DA Davidson raised their target price on Carvana from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $217.71.

Carvana Stock Up 1.1 %

Shares of CVNA stock traded up $2.51 during trading hours on Thursday, reaching $241.44. The company had a trading volume of 2,347,352 shares, compared to its average volume of 4,799,248. The business has a fifty day simple moving average of $178.93 and a 200-day simple moving average of $141.65. Carvana Co. has a 12 month low of $27.75 and a 12 month high of $259.39. The company has a market cap of $49.96 billion, a price-to-earnings ratio of 24,274.27 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $3.47 billion. During the same quarter last year, the firm posted $0.23 earnings per share. The firm's revenue for the quarter was up 31.8% compared to the same quarter last year. On average, research analysts expect that Carvana Co. will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 208,495 shares of the firm's stock in a transaction dated 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 completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Carvana news, CFO Mark W. Jenkins sold 208,495 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 90,732 shares in the company, valued at $20,362,982.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 20,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $241.78, for a total value of $4,835,600.00. Following the sale, the chief financial officer now owns 170,732 shares in the company, valued at approximately $41,279,582.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,810,251 shares of company stock worth $494,577,629 in the last quarter. 17.18% of the stock is currently owned by company 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.