255,800 Shares in Carvana Co. (NYSE:CVNA) Purchased by Avala Global LP

Avala Global LP purchased a new stake in Carvana Co. (NYSE:CVNA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 255,800 shares of the company’s stock, valued at approximately $44,537,000. Carvana accounts for about 2.9% of Avala Global LP’s portfolio, making the stock its 15th biggest position. Avala Global LP owned about 0.12% of Carvana at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Sylebra Capital LLC bought a new stake in Carvana in the 2nd quarter valued at about $67,686,000. Senator Investment Group LP bought a new stake in Carvana in the 2nd quarter valued at about $63,767,000. Driehaus Capital Management LLC grew its position in shares of Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Carvana during the second quarter worth approximately $39,997,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carvana

In related news, Director Gregory B. Sullivan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total value of $1,175,000.00. Following the sale, the director now directly owns 53,407 shares in the company, valued at $12,550,645. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 208,495 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the sale, the chief financial officer now directly owns 90,732 shares of the company’s stock, valued at $20,362,982.76. This represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,118,063 shares of company stock worth $389,949,579 in the last quarter. 17.12% of the stock is owned by insiders.

Carvana Stock Up 2.1 %

Shares of CVNA opened at $260.42 on Monday. The stock has a market capitalization of $54.07 billion, a price-to-earnings ratio of 26,068.07 and a beta of 3.37. Carvana Co. has a 52 week low of $29.84 and a 52 week high of $268.34. 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 stock has a fifty day moving average of $213.39 and a 200-day moving average of $159.35.

Carvana (NYSE:CVNA) last posted its 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 firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. As a group, sell-side analysts anticipate that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CVNA shares. JMP Securities boosted their price target on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Stephens began coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Finally, Citigroup boosted their target price on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $217.71.

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.