Zurcher Kantonalbank Zurich Cantonalbank Has $3.33 Million Stock Position in Carvana Co. (NYSE:CVNA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Carvana Co. (NYSE:CVNA) by 13.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,140 shares of the company’s stock after acquiring an additional 2,243 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Carvana were worth $3,332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Forum Financial Management LP grew its stake in shares of 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 acquiring an additional 76 shares during the last quarter. Empirical Asset Management LLC grew its stake in shares of Carvana by 2.0% in the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after acquiring an additional 100 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Carvana by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock worth $586,000 after acquiring an additional 115 shares during the last quarter. Bleakley Financial Group LLC lifted its position in 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 purchasing an additional 130 shares during the period. Finally, CWM LLC boosted its stake in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after buying an additional 144 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the sale, the chief operating officer now owns 218,686 shares of the company’s stock, valued at $52,484,640. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $141.72, for a total value of $10,629,000.00. Following the sale, the insider now directly owns 40,733,131 shares of the company’s stock, valued at $5,772,699,325.32. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,172,063 shares of company stock valued at $403,916,959 in the last quarter. 17.18% of the stock is currently owned by insiders.

Carvana Price Performance

Shares of CVNA opened at $255.54 on Wednesday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The company’s fifty day simple moving average is $214.99 and its 200 day simple moving average is $160.59. Carvana Co. has a 1-year low of $36.53 and a 1-year high of $268.34. The company has a market cap of $53.06 billion, a price-to-earnings ratio of 25,579.58 and a beta of 3.32.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. Carvana’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. On average, research analysts forecast that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the topic of a number of recent research reports. 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. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. JMP Securities lifted their price target on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Citigroup lifted their price target on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Finally, Robert W. Baird lifted their price target on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $220.94.

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.