Algert Global LLC Raises Holdings in Carvana Co. (NYSE:CVNA)

Algert Global LLC lifted its holdings in Carvana Co. (NYSE:CVNA) by 0.2% in the 3rd quarter, Holdings Channel reports. The firm owned 64,219 shares of the company’s stock after acquiring an additional 124 shares during the period. Algert Global LLC’s holdings in Carvana were worth $11,181,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. American International Group Inc. raised its position in Carvana by 6.6% in the 1st quarter. American International Group Inc. now owns 50,870 shares of the company’s stock worth $4,472,000 after buying an additional 3,150 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Carvana by 21.2% during the 1st quarter. Lazard Asset Management LLC now owns 1,866 shares of the company’s stock valued at $163,000 after acquiring an additional 326 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares during the period. Perbak Capital Partners LLP purchased a new position in shares of Carvana during the first quarter valued at approximately $8,285,000. Finally, California State Teachers Retirement System lifted its position in Carvana by 1.3% during the first quarter. California State Teachers Retirement System now owns 97,707 shares of the company’s stock valued at $8,589,000 after purchasing an additional 1,221 shares during the period. 56.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVNA has been the subject of a number of research analyst reports. Citigroup lifted their target price on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Robert W. Baird lifted their price objective on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Wedbush raised their target price on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Carvana presently has an average rating of “Hold” and a consensus target price of $217.71.

Carvana Stock Up 4.4 %

Shares of CVNA stock opened at $259.31 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. Carvana Co. has a one year low of $29.84 and a one year high of $263.61. The company’s fifty day moving average price is $203.96 and its 200-day moving average price is $154.21. The company has a market capitalization of $53.84 billion, a price-to-earnings ratio of 25,956.96 and a beta of 3.37.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the company posted $0.23 EPS. The company’s quarterly revenue was up 31.8% on a year-over-year basis. Sell-side analysts expect that Carvana Co. will post 0.76 EPS for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, insider Daniel J. Gill sold 30,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the transaction, the insider now owns 328,329 shares of the company’s stock, valued at $57,457,575. This represents a 8.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 9,186 shares of Carvana stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $156.95, for a total value of $1,441,742.70. Following the completion of the sale, the insider now directly owns 41,433,131 shares in the company, valued at $6,502,929,910.45. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,327,249 shares of company stock valued at $421,876,322. 17.12% of the stock is owned by company insiders.

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.