Carvana Co. (NYSE:CVNA) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in Carvana Co. (NYSE:CVNA) by 28.9% in the fourth quarter, Holdings Channel reports. The firm owned 784 shares of the company’s stock after acquiring an additional 176 shares during the period. GAMMA Investing LLC’s holdings in Carvana were worth $159,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Sugarloaf Wealth Management LLC purchased a new position in Carvana during the 3rd quarter worth $32,000. Capital Performance Advisors LLP acquired a new stake in shares of Carvana during the third quarter worth about $40,000. Versant Capital Management Inc purchased a new position in shares of Carvana during the fourth quarter worth about $42,000. First Horizon Advisors Inc. increased its position in Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after acquiring an additional 196 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana during the 2nd quarter valued at approximately $51,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CVNA. Bank of America lifted their target price on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wedbush boosted their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Carvana in a research report on Tuesday. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Finally, Evercore ISI increased their price target on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.94.

Insider Buying and Selling at Carvana

In related news, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the sale, the insider now owns 191,225 shares in the company, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $192.55, for a total transaction of $19,255,000.00. Following the completion of the sale, the insider now directly owns 38,258,131 shares of the company’s stock, valued at $7,366,603,124.05. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,051,908 shares of company stock worth $218,824,285. 17.12% of the stock is owned by insiders.

Carvana Price Performance

Carvana stock opened at $197.00 on Thursday. 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’s 50-day simple moving average is $235.93 and its 200 day simple moving average is $182.69. Carvana Co. has a 52 week low of $40.21 and a 52 week high of $268.34. The firm has a market capitalization of $40.90 billion, a PE ratio of 19,719.72 and a beta of 3.38.

Carvana (NYSE:CVNA) last released 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 analyst estimates of $3.47 billion. During the same quarter in the prior year, the company earned $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, equities research analysts predict that Carvana Co. will post 0.76 EPS 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.