Carvana Co. (NYSE:CVNA) Shares Bought by MML Investors Services LLC

MML Investors Services LLC grew its position in Carvana Co. (NYSE:CVNA) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,172 shares of the company’s stock after acquiring an additional 122 shares during the quarter. MML Investors Services LLC’s holdings in Carvana were worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its stake in Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Lingotto Investment Management LLP raised its position in shares of Carvana by 1.4% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after purchasing an additional 52,833 shares during the period. State Street Corp raised its position in shares of Carvana by 6.1% during the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after purchasing an additional 107,610 shares during the period. Whale Rock Capital Management LLC acquired a new position in Carvana during the 3rd quarter valued at approximately $162,953,000. Finally, Renaissance Technologies LLC boosted its position in Carvana by 12.2% during the 2nd quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after purchasing an additional 88,500 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $172.66, for a total value of $17,266,000.00. Following the completion of the transaction, the insider now directly owns 39,658,131 shares in the company, valued at $6,847,372,898.46. This trade represents a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 151,029 shares in the company, valued at $37,440,089.10. This represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,841,908 shares of company stock worth $357,778,785. 17.12% of the stock is owned by insiders.

Carvana Price Performance

NYSE:CVNA opened at $224.46 on Friday. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34. 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 cap of $46.60 billion, a P/E ratio of 22,468.47 and a beta of 3.32. The business’s 50-day moving average price is $233.54 and its 200 day moving average price is $173.18.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, sell-side analysts predict that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Evercore ISI boosted their price objective on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Finally, Citigroup raised their target price on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Eleven research 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, Carvana currently has a consensus rating of “Hold” and an average target price of $222.71.

Carvana Company 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.