Y Intercept Hong Kong Ltd lessened its stake in Carvana Co. (NYSE:CVNA - Free Report) by 21.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,903 shares of the company's stock after selling 11,473 shares during the quarter. Carvana accounts for 0.4% of Y Intercept Hong Kong Ltd's investment portfolio, making the stock its 20th largest position. Y Intercept Hong Kong Ltd's holdings in Carvana were worth $7,296,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in CVNA. Cetera Investment Advisers increased its holdings in Carvana by 171.7% during the 1st quarter. Cetera Investment Advisers now owns 20,862 shares of the company's stock valued at $1,834,000 after acquiring an additional 13,185 shares in the last quarter. Cetera Advisors LLC purchased a new position in Carvana during the 1st quarter valued at about $461,000. CWM LLC increased its holdings in Carvana by 19.5% during the 2nd quarter. CWM LLC now owns 883 shares of the company's stock valued at $114,000 after acquiring an additional 144 shares in the last quarter. Simplicity Wealth LLC purchased a new position in Carvana during the 2nd quarter valued at about $280,000. Finally, QRG Capital Management Inc. increased its holdings in Carvana by 8.7% during the 2nd quarter. QRG Capital Management Inc. now owns 5,778 shares of the company's stock valued at $744,000 after acquiring an additional 461 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of Carvana from $240.00 to $245.00 and gave the stock an "in-line" rating in a research note on Tuesday, December 3rd. Bank of America raised their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Jefferies Financial Group raised their price target on shares of Carvana from $150.00 to $185.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target 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, Morgan Stanley raised shares of Carvana from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $222.71.
Get Our Latest Stock Analysis on Carvana
Carvana Trading Down 2.9 %
NYSE CVNA traded down $7.33 during mid-day trading on Monday, hitting $243.88. The company's stock had a trading volume of 2,423,193 shares, compared to its average volume of 4,582,833. Carvana Co. has a 52-week low of $37.47 and a 52-week high of $268.34. The stock's fifty day simple moving average is $223.17 and its two-hundred day simple moving average is $165.45. 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 firm has a market capitalization of $50.64 billion, a P/E ratio of 24,388.00 and a beta of 3.32.
Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $0.23 EPS. The company's quarterly revenue was up 31.8% on a year-over-year basis. Research analysts expect that Carvana Co. will post 0.76 EPS for the current year.
Insider Activity
In other news, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction that occurred on 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 sale, the insider now owns 119,494 shares in the company, valued at $23,659,812. This trade represents a 10.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction that occurred on 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 sale, the chief financial officer now owns 90,732 shares in the company, valued at $20,362,982.76. This represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,022,063 shares of company stock worth $383,108,209 over the last 90 days. Company insiders own 17.12% of the company's stock.
Carvana Company Profile
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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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