Van ECK Associates Corp Sells 2,421 Shares of Carvana Co. (NYSE:CVNA)

Van ECK Associates Corp lowered its position in shares of Carvana Co. (NYSE:CVNA) by 49.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,429 shares of the company’s stock after selling 2,421 shares during the period. Van ECK Associates Corp’s holdings in Carvana were worth $423,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Asset Management LLC lifted its stake in shares of Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after buying an additional 100 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Carvana by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after acquiring an additional 130 shares during the period. CWM LLC lifted its position in shares of Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Carvana by 32.8% in the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after acquiring an additional 150 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of Carvana by 2.9% during the third quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock worth $1,066,000 after purchasing an additional 175 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Down 1.3 %

CVNA opened at $246.70 on Wednesday. Carvana Co. has a one year low of $27.75 and a one year high of $259.39. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The stock has a market cap of $51.22 billion, a price-to-earnings ratio of 24,694.69 and a beta of 3.37. The stock’s 50 day moving average price is $186.66 and its 200-day moving average price is $146.86.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. On average, equities analysts forecast that Carvana Co. will post 0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVNA. Citigroup upped their price target on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Piper Sandler raised their target price on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Bank of America raised their price objective on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Wedbush boosted 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. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $217.71.

Insider Activity at Carvana

In other news, Director Ira J. Platt sold 664 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the transaction, the director now directly owns 30,227 shares of the company’s stock, valued at approximately $4,534,050. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the sale, the director now directly owns 30,227 shares in the company, valued at $4,534,050. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $154.95, for a total transaction of $15,495,000.00. Following the transaction, the insider now directly owns 490,814 shares in the company, valued at $76,051,629.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,727,913 shares of company stock worth $483,483,922 in the last 90 days. 17.12% of the stock is owned by corporate insiders.

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.