Carvana Co. (NYSE:CVNA) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its holdings in shares of Carvana Co. (NYSE:CVNA) by 3.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,915 shares of the company’s stock after selling 65 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Carvana were worth $333,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CVNA. Driehaus Capital Management LLC boosted its holdings in Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares during the last quarter. Integrated Advisors Network LLC raised its position 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 valued at $9,229,000 after purchasing an additional 24,996 shares in the last quarter. Colonial River Investments LLC purchased a new position in shares of Carvana during the 3rd quarter valued at approximately $786,000. Highland Capital Management LLC acquired a new stake in shares of Carvana during the third quarter worth approximately $1,314,000. Finally, Legacy Capital Group California Inc. bought a new stake in shares of Carvana in the third quarter worth $1,248,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $135.73, for a total transaction of $10,179,750.00. Following the completion of the transaction, the insider now directly owns 40,583,131 shares in the company, valued at $5,508,348,370.63. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the transaction, the chief financial officer now owns 170,732 shares of the company’s stock, valued at $41,279,582.96. This trade represents a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,327,249 shares of company stock valued at $421,876,322 in the last ninety days. 17.12% of the stock is currently owned by company insiders.

Carvana Trading Up 1.3 %

Shares of Carvana stock opened at $247.68 on Friday. 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 business has a fifty day simple moving average of $201.61 and a two-hundred day simple moving average of $153.27. Carvana Co. has a 1 year low of $29.84 and a 1 year high of $259.39. The company has a market capitalization of $51.43 billion, a price-to-earnings ratio of 24,792.91 and a beta of 3.37.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share 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. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. Research analysts forecast that Carvana Co. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on CVNA shares. Piper Sandler lifted their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted 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. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and raised their price target for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Finally, Needham & Company LLC boosted their price objective on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $217.71.

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.