Carvana Co. (NYSE:CVNA) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 49.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,429 shares of the company's stock after selling 2,421 shares during the quarter. Van ECK Associates Corp's holdings in Carvana were worth $423,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CVNA. Vanguard Group Inc. grew its stake in Carvana by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company's stock valued at $904,642,000 after acquiring an additional 266,972 shares during the period. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 2,112,463 shares during the period. Lingotto Investment Management LLP grew 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 during the period. Renaissance Technologies LLC grew its stake in Carvana by 12.2% in the 2nd quarter. Renaissance Technologies LLC now owns 813,400 shares of the company's stock valued at $104,701,000 after acquiring an additional 88,500 shares during the period. Finally, Driehaus Capital Management LLC boosted its stake in Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company's stock worth $74,888,000 after purchasing an additional 323,153 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Down 2.6 %

NYSE:CVNA traded down $6.44 on Wednesday, reaching $240.31. 1,927,463 shares of the company's stock were exchanged, compared to its average volume of 4,749,564. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The firm has a market capitalization of $49.90 billion, a price-to-earnings ratio of 24,031.00 and a beta of 3.37. The business has a fifty day moving average of $188.57 and a 200-day moving average of $147.52. Carvana Co. has a 52-week low of $29.84 and a 52-week high of $259.39.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the firm posted $0.23 earnings per share. The business's quarterly revenue was up 31.8% compared to the same quarter last year. As a group, analysts expect that Carvana Co. will post 0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley raised shares of Carvana from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Evercore ISI lifted their target price on shares of Carvana from $186.00 to $190.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price target on Carvana from $151.00 to $225.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Wedbush lifted their price target on Carvana from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. Finally, Citigroup lifted their price target on Carvana from $125.00 to $195.00 and gave the stock a "neutral" rating in a report on Thursday, October 3rd. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $217.71.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 208,495 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the transaction, the chief financial officer now directly owns 90,732 shares of the company's stock, valued at approximately $20,362,982.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Mark W. Jenkins sold 208,495 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the transaction, the chief financial officer now directly owns 90,732 shares of the company's stock, valued at approximately $20,362,982.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory B. Sullivan sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the transaction, the director now directly owns 53,407 shares of the company's stock, valued at $12,550,645. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,727,913 shares of company stock valued at $483,483,922. 17.12% of the stock is currently owned by corporate 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.