Carvana Co. (NYSE:CVNA) Stock Position Lifted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its stake in shares of Carvana Co. (NYSE:CVNA) by 97.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,489 shares of the company’s stock after purchasing an additional 735 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Carvana were worth $259,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Forum Financial Management LP raised its position in shares of Carvana by 3.8% during the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after buying an additional 76 shares in the last quarter. Empirical Asset Management LLC boosted its stake in 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 purchasing an additional 100 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Carvana by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after purchasing an additional 115 shares during the period. Bleakley Financial Group LLC raised its stake in shares of Carvana by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after buying an additional 130 shares in the last quarter. Finally, CWM LLC lifted its holdings 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 buying an additional 144 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Down 1.9 %

Shares of NYSE:CVNA opened at $255.92 on Wednesday. Carvana Co. has a 12-month low of $29.84 and a 12-month high of $268.34. 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 firm has a market capitalization of $53.14 billion, a P/E ratio of 25,617.62 and a beta of 3.37. The firm has a fifty day moving average of $206.13 and a two-hundred day moving average of $155.75.

Carvana (NYSE:CVNA) last issued its 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 during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, equities analysts expect that Carvana Co. will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CVNA shares. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JMP Securities boosted their target price on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Stephens initiated coverage on shares of Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price for the company. BTIG Research increased their price objective on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Wedbush lifted their target price on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $217.71.

Insider Buying and Selling

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $141.72, for a total transaction of $10,629,000.00. Following the transaction, the insider now owns 40,733,131 shares in the company, valued at approximately $5,772,699,325.32. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the completion of the sale, the chief financial officer now owns 170,732 shares of the company’s stock, valued at $41,279,582.96. This represents a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,218,063 shares of company stock worth $404,865,579. Insiders own 17.18% of the company’s stock.

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.