Quest Partners LLC Grows Stake in Carvana Co. (NYSE:CVNA)

Quest Partners LLC boosted its stake in Carvana Co. (NYSE:CVNA) by 951.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,201 shares of the company’s stock after buying an additional 7,421 shares during the quarter. Quest Partners LLC’s holdings in Carvana were worth $1,428,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. US Bancorp DE boosted its stake in shares of Carvana by 724.5% in the first quarter. US Bancorp DE now owns 5,549 shares of the company’s stock worth $488,000 after acquiring an additional 4,876 shares during the last quarter. Vanguard Group Inc. boosted its stake in Carvana by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Carvana by 6.2% during the first quarter. Ameritas Investment Partners Inc. now owns 10,294 shares of the company’s stock worth $905,000 after buying an additional 598 shares in the last quarter. American International Group Inc. raised its position in shares of Carvana by 6.6% in the first quarter. American International Group Inc. now owns 50,870 shares of the company’s stock valued at $4,472,000 after buying an additional 3,150 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Carvana by 21.2% in the first quarter. Lazard Asset Management LLC now owns 1,866 shares of the company’s stock worth $163,000 after buying an additional 326 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Ernest C. Garcia II sold 9,186 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $156.95, for a total value of $1,441,742.70. Following the sale, the insider now directly owns 41,433,131 shares in the company, valued at approximately $6,502,929,910.45. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $155.94, for a total value of $15,594,000.00. Following the transaction, the insider now directly owns 90,814 shares of the company’s stock, valued at $14,161,535.16. The trade was a 52.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,427,249 shares of company stock valued at $437,470,322. 17.18% of the stock is currently owned by company insiders.

Carvana Trading Up 1.9 %

CVNA opened at $249.38 on Wednesday. Carvana Co. has a 52 week low of $29.84 and a 52 week high of $259.39. 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 business has a fifty day simple moving average of $197.26 and a 200-day simple moving average of $151.96. The firm has a market cap of $51.78 billion, a P/E ratio of 24,962.96 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced 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 for the quarter, compared to analysts’ expectations of $3.47 billion. The business’s revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. On average, equities analysts expect that Carvana Co. will post 0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVNA. Needham & Company LLC upped their price objective on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Evercore ISI increased their price target on Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. DA Davidson boosted their price objective on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised their target price on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Bank of America boosted their price target on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $217.71.

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.