Carvana Co. (NYSE:CVNA) Short Interest Down 6.3% in October

Carvana Co. (NYSE:CVNA) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 13,640,000 shares, a decrease of 6.3% from the September 30th total of 14,550,000 shares. Based on an average daily volume of 3,330,000 shares, the days-to-cover ratio is presently 4.1 days.

Carvana Stock Down 3.6 %

Carvana stock traded down $8.82 during midday trading on Friday, reaching $238.49. The stock had a trading volume of 2,645,731 shares, compared to its average volume of 4,819,373. The company has a fifty day moving average price of $172.95 and a two-hundred day moving average price of $136.66. The company has a market capitalization of $49.35 billion, a P/E ratio of 24,755.76 and a beta of 3.44. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. Carvana has a 12 month low of $27.75 and a 12 month high of $259.39.

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 business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, equities analysts expect that Carvana will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ira J. Platt sold 664 shares of the 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 sale, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Ernest C. Garcia II sold 15,814 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $201.16, for a total value of $3,181,144.24. Following the completion of the transaction, the insider now owns 37,442,317 shares of the company’s stock, valued at approximately $7,531,896,487.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira J. Platt sold 664 shares of Carvana 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 sale, the director now directly owns 30,227 shares in the company, valued at $4,534,050. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,705,891 shares of company stock worth $455,601,985 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new position in Carvana during the 2nd quarter valued at about $32,000. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana during the third quarter valued at approximately $32,000. Summit Securities Group LLC grew its holdings in Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Carvana in the 3rd quarter valued at $40,000. Finally, Fifth Third Bancorp lifted its stake in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Stephens assumed coverage on shares of Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price on the stock. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and boosted their price objective for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Piper Sandler upped their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday. Robert W. Baird lifted their price target on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, JMP Securities boosted their price target on Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Carvana has an average rating of “Hold” and an average price target of $208.88.

About Carvana

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.