Sigma Planning Corp Takes Position in Carvana Co. (NYSE:CVNA)

Sigma Planning Corp acquired a new stake in shares of Carvana Co. (NYSE:CVNA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,311 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Forum Financial Management LP boosted its position in Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after purchasing an additional 76 shares during the last quarter. Empirical Asset Management LLC lifted its stake in shares of Carvana by 2.0% in the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after purchasing an additional 100 shares during the period. Bleakley Financial Group LLC boosted its holdings in shares of Carvana by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after buying an additional 130 shares during the last quarter. CWM LLC grew its position in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after buying an additional 144 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Carvana by 32.8% during the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock valued at $106,000 after buying an additional 150 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVNA. Bank of America lifted their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Evercore ISI upped their price target on Carvana from $186.00 to $190.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. JMP Securities boosted their price objective on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and lifted their price target for the company from $166.00 to $170.00 in a report on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $217.71.

Carvana Stock Up 0.2 %

Shares of CVNA stock opened at $241.00 on Monday. Carvana Co. has a 52 week low of $29.84 and a 52 week high of $259.39. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The company’s fifty day simple moving average is $192.70 and its two-hundred day simple moving average is $150.16. The stock has a market cap of $50.04 billion, a P/E ratio of 24,124.12 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the company posted $0.23 earnings per share. Carvana’s quarterly revenue was up 31.8% on a year-over-year basis. Analysts predict that Carvana Co. will post 0.62 EPS for the current fiscal year.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total value of $4,835,600.00. Following the completion of the sale, the chief financial officer now directly owns 170,732 shares of the company’s stock, valued at $41,279,582.96. This trade represents a 10.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $155.94, for a total value of $15,594,000.00. Following the transaction, the insider now directly owns 90,814 shares in the company, valued at approximately $14,161,535.16. This represents a 52.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,527,249 shares of company stock valued at $453,021,322. 17.12% of the stock is owned by corporate 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.