Carvana Co. (NYSE:CVNA) Position Increased by National Bank of Canada FI

National Bank of Canada FI lifted its holdings in Carvana Co. (NYSE:CVNA) by 47.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,421 shares of the company’s stock after purchasing an additional 459 shares during the period. National Bank of Canada FI’s holdings in Carvana were worth $247,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CVNA. Eagle Asset Management Inc. bought a new position in Carvana during the 3rd quarter worth $50,531,000. Driehaus Capital Management LLC boosted its holdings 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 valued at $74,888,000 after acquiring an additional 323,153 shares during the period. Swiss National Bank grew its position in shares of Carvana by 6.9% during the third quarter. Swiss National Bank now owns 207,900 shares of the company’s stock worth $36,197,000 after acquiring an additional 13,400 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in shares of Carvana by 89.2% in the 3rd quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock worth $9,229,000 after acquiring an additional 24,996 shares during the period. Finally, Colonial River Investments LLC bought a new stake in Carvana in the 3rd quarter valued at about $786,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 208,495 shares of the 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the sale, the insider now directly owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,971,908 shares of company stock valued at $379,874,785. 17.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on CVNA. Robert W. Baird upped their target price on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC raised their target price on Carvana from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler boosted their price target on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Bank of America raised their price target on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company upped their price objective on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Carvana presently has a consensus rating of “Hold” and an average price target of $222.71.

Carvana Trading Up 3.0 %

NYSE:CVNA opened at $255.69 on Tuesday. The stock has a market cap of $53.09 billion, a PE ratio of 25,569.00 and a beta of 3.32. Carvana Co. has a fifty-two week low of $40.21 and a fifty-two week high of $268.34. 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 stock’s 50-day moving average is $230.16 and its two-hundred day moving average is $170.44.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, equities research analysts forecast that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

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.