1,444 Shares in Carvana Co. (NYSE:CVNA) Acquired by CI Investments Inc.

CI Investments Inc. acquired a new stake in shares of Carvana Co. (NYSE:CVNA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,444 shares of the company’s stock, valued at approximately $322,000.

Several other large investors also recently made changes to their positions in CVNA. Morgan Stanley lifted its stake in Carvana by 159.4% during the first quarter. Morgan Stanley now owns 7,575,147 shares of the company’s stock worth $417,315,000 after purchasing an additional 4,654,539 shares during the period. SG Americas Securities LLC bought a new position in Carvana during the second quarter worth about $120,000. First Trust Advisors LP lifted its stake in Carvana by 42.8% during the second quarter. First Trust Advisors LP now owns 272,886 shares of the company’s stock worth $32,801,000 after purchasing an additional 81,814 shares during the period. Janney Montgomery Scott LLC bought a new position in Carvana during the second quarter worth about $340,000. Finally, Dorsey Wright & Associates bought a new position in Carvana during the second quarter worth about $981,000. Institutional investors own 43.86% of the company’s stock.

CVNA has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Carvana from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. The Goldman Sachs Group lifted their target price on shares of Carvana from $205.00 to $270.00 and gave the company a “positive” rating in a research note on Wednesday, October 7th. DA Davidson assumed coverage on shares of Carvana in a report on Tuesday, November 10th. They issued a “neutral” rating and a $214.00 price target for the company. JPMorgan Chase & Co. raised shares of Carvana from a “neutral” rating to an “overweight” rating and set a $235.00 price target for the company in a report on Tuesday, September 22nd. Finally, Oppenheimer assumed coverage on shares of Carvana in a report on Friday, October 30th. They issued a “buy” rating and a $250.00 price target for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $208.70.

In other news, insider Paul W. Breaux sold 7,500 shares of Carvana stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $224.00, for a total transaction of $1,680,000.00. Following the transaction, the insider now directly owns 17,153 shares of the company’s stock, valued at $3,842,272. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 30,000 shares of Carvana stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $185.17, for a total transaction of $5,555,100.00. Following the transaction, the insider now directly owns 600 shares in the company, valued at $111,102. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,761 shares of company stock worth $40,421,108. Insiders own 12.25% of the company’s stock.

CVNA opened at $234.30 on Friday. The company has a fifty day moving average price of $209.15 and a two-hundred day moving average price of $161.81. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.42 and a current ratio of 3.18. Carvana Co. has a 52 week low of $22.16 and a 52 week high of $242.15. The firm has a market capitalization of $40.25 billion, a PE ratio of -85.82 and a beta of 2.58.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Thursday, October 29th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Carvana had a negative net margin of 3.06% and a negative return on equity of 43.19%. The business’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.56) earnings per share. Equities analysts forecast that Carvana Co. will post -2.39 EPS for the current year.

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.

See Also: Short Selling

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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