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

Quest Partners LLC grew its position in Carvana Co. (NYSE:CVNA) by 951.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Driehaus Capital Management LLC boosted its stake in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares in the last quarter. Integrated Advisors Network LLC boosted its position in Carvana by 89.2% during the 3rd quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock valued at $9,229,000 after acquiring an additional 24,996 shares in the last quarter. Colonial River Investments LLC purchased a new position in shares of Carvana in the 3rd quarter valued at $786,000. Highland Capital Management LLC bought a new position in shares of Carvana in the 3rd quarter worth $1,314,000. Finally, Legacy Capital Group California Inc. purchased a new stake in shares of Carvana during the 3rd quarter worth $1,248,000. Institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 208,495 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the completion of the transaction, the chief financial officer now owns 90,732 shares in the company, valued at approximately $20,362,982.76. This represents a 69.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $135.73, for a total value of $10,179,750.00. Following the completion of the transaction, the insider now owns 40,583,131 shares of the company’s stock, valued at approximately $5,508,348,370.63. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,427,249 shares of company stock worth $437,470,322. Corporate insiders own 17.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Robert W. Baird lifted their target price on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Citigroup boosted their price objective 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. DA Davidson raised their target price on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Evercore ISI raised their price objective on Carvana from $186.00 to $190.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $217.71.

Carvana Trading Up 1.9 %

NYSE CVNA opened at $249.38 on Wednesday. Carvana Co. has a 1 year low of $29.84 and a 1 year high of $259.39. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company has a market capitalization of $51.78 billion, a PE ratio of 24,962.96 and a beta of 3.37. The company has a fifty day moving average of $197.26 and a 200 day moving average of $151.96.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The business’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. Research analysts forecast that Carvana Co. will post 0.62 earnings per share for the current year.

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.