Carvana Co. $CVNA Shares Bought by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd grew its stake in Carvana Co. (NYSE:CVNA) by 105.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,050 shares of the company’s stock after buying an additional 5,684 shares during the period. Mediolanum International Funds Ltd’s holdings in Carvana were worth $4,339,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CVNA. Hilltop National Bank acquired a new position in Carvana in the second quarter valued at $25,000. ORG Partners LLC increased its position in shares of Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after purchasing an additional 87 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Carvana in the 2nd quarter valued at about $38,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Carvana in the 3rd quarter valued at about $38,000. Finally, LRI Investments LLC purchased a new position in Carvana during the 2nd quarter worth approximately $42,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVNA shares. Wall Street Zen cut Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. BTIG Research upped their price target on shares of Carvana from $450.00 to $535.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Jefferies Financial Group increased their price target on shares of Carvana from $475.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Wells Fargo & Company lifted their price objective on shares of Carvana from $500.00 to $525.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Finally, Gordon Haskett reduced their target price on shares of Carvana from $445.00 to $435.00 and set a “hold” rating for the company in a report on Monday, January 5th. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $474.27.

Insider Activity

In other news, insider Daniel J. Gill sold 80,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $439.50, for a total transaction of $35,160,000.00. Following the completion of the transaction, the insider directly owned 191,106 shares of the company’s stock, valued at approximately $83,991,087. This represents a 29.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 20,000 shares of Carvana stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $438.50, for a total value of $8,770,000.00. Following the completion of the sale, the insider owned 69,289 shares in the company, valued at approximately $30,383,226.50. This trade represents a 22.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 409,006 shares of company stock valued at $173,845,815 over the last ninety days. 16.36% of the stock is currently owned by company insiders.

Carvana Stock Up 1.8%

Shares of Carvana stock opened at $408.22 on Tuesday. Carvana Co. has a one year low of $148.25 and a one year high of $486.89. The company has a market cap of $88.80 billion, a P/E ratio of 93.20, a PEG ratio of 0.96 and a beta of 3.57. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The firm has a fifty day moving average of $433.47 and a two-hundred day moving average of $379.81.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.