Carvana Co. (NYSE:CVNA) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 13.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,140 shares of the company's stock after buying an additional 2,243 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Carvana were worth $3,332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CVNA. FMR LLC boosted its position in Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company's stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. Sylebra Capital LLC bought a new stake in Carvana during the second quarter valued at about $67,686,000. Senator Investment Group LP purchased a new stake in Carvana in the second quarter worth about $63,767,000. Driehaus Capital Management LLC raised its stake in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company's stock worth $74,888,000 after buying an additional 323,153 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Carvana during the 2nd quarter valued at approximately $39,997,000. Institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

CVNA stock traded down $0.58 during midday trading on Wednesday, reaching $255.18. The stock had a trading volume of 875,567 shares, compared to its average volume of 4,609,198. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The firm has a fifty day simple moving average of $216.65 and a two-hundred day simple moving average of $161.56. The stock has a market cap of $52.98 billion, a PE ratio of 25,579.58 and a beta of 3.32. Carvana Co. has a 52-week low of $36.53 and a 52-week high of $268.34.

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 analyst estimates of $3.47 billion. During the same period last year, the firm earned $0.23 EPS. The company's revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Carvana Co. will post 0.76 EPS for the current year.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $141.72, for a total value of $10,629,000.00. Following the completion of the transaction, the insider now directly owns 40,733,131 shares in the company, valued at $5,772,699,325.32. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 208,495 shares of the firm's stock in a transaction 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 approximately $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 2,172,063 shares of company stock valued at $403,916,959 in the last ninety days. Insiders own 17.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CVNA shares. Evercore ISI raised their price target on Carvana from $240.00 to $245.00 and gave the company an "in-line" rating in a report on Tuesday. Needham & Company LLC increased their price objective on shares of Carvana from $200.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Wedbush upped their target price on shares of Carvana from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Monday, October 7th. Citigroup lifted their price target on shares of Carvana from $125.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday, October 3rd. Finally, Bank of America increased their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $220.94.

Carvana 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.