290,222 Shares in Carvana Co. (NYSE:CVNA) Bought by Eagle Asset Management Inc.

Eagle Asset Management Inc. acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 290,222 shares of the company’s stock, valued at approximately $50,531,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in 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 valued at $655,727,000 after buying an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP lifted its stake in Carvana by 1.4% in the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after buying an additional 52,833 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Carvana by 12.2% during the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after purchasing an additional 88,500 shares during the period. Driehaus Capital Management LLC increased 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 period. Finally, Sylebra Capital LLC acquired a new position in shares of Carvana during the second quarter valued at $67,686,000. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the transaction, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Gill sold 30,000 shares of Carvana stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the transaction, the insider now owns 328,329 shares in the company, valued at $57,457,575. The trade was a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,327,249 shares of company stock worth $421,876,322. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of research analyst reports. Stephens initiated coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target on the stock. TD Cowen raised their price target on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Piper Sandler raised their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. BTIG Research raised their price target on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, JMP Securities lifted their target price on Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $217.71.

Carvana Price Performance

Shares of NYSE:CVNA opened at $259.31 on Friday. The company’s fifty day moving average is $203.96 and its two-hundred day moving average is $154.21. The company has a market cap of $53.84 billion, a P/E ratio of 25,931.00 and a beta of 3.37. Carvana Co. has a 12-month low of $29.84 and a 12-month high of $263.61. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

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

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.