SG Americas Securities LLC Has $1.74 Million Stake in Carvana Co. (NYSE:CVNA)

SG Americas Securities LLC lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 804.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,989 shares of the company’s stock after purchasing an additional 8,884 shares during the quarter. SG Americas Securities LLC’s holdings in Carvana were worth $1,739,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after purchasing an additional 2,112,463 shares during the period. Vanguard Group Inc. boosted its position in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares during the period. Sylebra Capital LLC bought a new position in shares of Carvana during the second quarter worth about $67,686,000. Senator Investment Group LP acquired a new stake in Carvana in the 2nd quarter valued at approximately $63,767,000. Finally, Driehaus Capital Management LLC lifted its stake in Carvana by 124.9% in the 2nd 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 in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVNA shares. Stephens initiated coverage on shares of Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target for the company. Bank of America reiterated a “buy” rating and issued a $185.00 price target on shares of Carvana in a research note on Tuesday, September 17th. JMP Securities restated a “market outperform” rating and set a $200.00 price objective on shares of Carvana in a research note on Monday, September 9th. Citigroup lifted 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. Finally, TD Cowen raised their price target on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carvana currently has an average rating of “Hold” and an average price target of $158.72.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $179.06, for a total value of $17,906,000.00. Following the completion of the sale, the insider now directly owns 38,858,131 shares in the company, valued at approximately $6,957,936,936.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Daniel J. Gill sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the transaction, the insider now directly owns 328,329 shares in the company, valued at approximately $57,457,575. The trade was a 0.00 % decrease in their position. The sale was disclosed in a 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 the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $179.06, for a total transaction of $17,906,000.00. Following the sale, the insider now owns 38,858,131 shares in the company, valued at $6,957,936,936.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,586,866 shares of company stock valued at $389,372,534. 17.12% of the stock is owned by company insiders.

Carvana Stock Performance

NYSE CVNA opened at $190.96 on Wednesday. The stock has a market cap of $38.68 billion, a PE ratio of 83.75 and a beta of 3.44. The firm has a 50-day moving average of $153.92 and a 200-day moving average of $123.62. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $191.00.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. On average, sell-side analysts anticipate that Carvana Co. will post 0.27 EPS for the current year.

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.