UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 13,137 Shares of Carvana Co. (NYSE:CVNA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Carvana Co. (NYSE:CVNA) by 5.7% during the 3rd quarter, Holdings Channel reports. The firm owned 218,294 shares of the company’s stock after selling 13,137 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Carvana were worth $38,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CVNA. Eagle Asset Management Inc. bought a new stake in Carvana during the third quarter worth about $50,531,000. Driehaus Capital Management LLC boosted its holdings in shares of Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after acquiring an additional 323,153 shares in the last quarter. Swiss National Bank grew its position in Carvana by 6.9% during the 3rd quarter. Swiss National Bank now owns 207,900 shares of the company’s stock worth $36,197,000 after acquiring an additional 13,400 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in Carvana by 89.2% during 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. Finally, Colonial River Investments LLC bought a new position in Carvana in the 3rd quarter valued at $786,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 218,686 shares in the company, valued at approximately $52,484,640. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana 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 approximately $5,508,348,370.63. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,172,063 shares of company stock valued at $403,916,959. 17.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wedbush raised their target price on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Bank of America raised their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler increased their price target on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and boosted their price objective for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $220.94.

Carvana Stock Performance

Shares of CVNA stock opened at $255.54 on Wednesday. The stock has a 50-day moving average of $214.99 and a 200-day moving average of $160.59. Carvana Co. has a one year low of $36.53 and a one year high of $268.34. The stock has a market cap of $53.06 billion, a PE ratio of 25,579.58 and a beta of 3.32. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last issued 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. During the same period in the previous year, the company posted $0.23 EPS. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, sell-side analysts expect that Carvana Co. will post 0.76 earnings per share for the current year.

Carvana 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.