Carvana Co. (NYSE:CVNA) Stock Position Increased by Cerity Partners LLC

Cerity Partners LLC boosted its position in shares of Carvana Co. (NYSE:CVNA) by 112.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,215 shares of the company’s stock after buying an additional 2,234 shares during the quarter. Cerity Partners LLC’s holdings in Carvana were worth $734,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sylebra Capital LLC acquired a new stake in shares of Carvana during the 2nd quarter valued at $67,686,000. Senator Investment Group LP acquired a new stake in shares of Carvana during the second quarter worth $63,767,000. Driehaus Capital Management LLC lifted 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 purchasing an additional 323,153 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Carvana in the 2nd quarter valued at $39,997,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Carvana in the 2nd quarter worth about $37,728,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 14,548 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total value of $2,880,504.00. Following the completion of the sale, the insider now directly owns 119,494 shares in the company, valued at approximately $23,659,812. The trade was a 10.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares in the company, valued at $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,097,063 shares of company stock worth $393,287,959. 17.12% of the stock is owned by corporate insiders.

Carvana Price Performance

Shares of CVNA opened at $251.11 on Friday. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The firm has a market cap of $52.14 billion, a PE ratio of 25,136.14 and a beta of 3.32. Carvana Co. has a twelve month low of $36.53 and a twelve month high of $268.34. The firm’s 50 day moving average price is $221.77 and its 200 day moving average price is $163.82.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (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. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. As a group, research analysts expect that Carvana Co. will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on CVNA. JPMorgan Chase & Co. upped their price objective on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Needham & Company LLC boosted their price target on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JMP Securities raised their price objective on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Evercore ISI boosted their target price on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday. Finally, Stephens started coverage on Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price for the company. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $220.94.

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.