Harvest Fund Management Co. Ltd Raises Holdings in Carvana Co. (NYSE:CVNA)

Harvest Fund Management Co. Ltd raised its position in shares of Carvana Co. (NYSE:CVNA) by 97.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,489 shares of the company’s stock after acquiring an additional 735 shares during the period. 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 and hedge funds also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. purchased a new stake in shares of Carvana during the 3rd quarter worth about $50,531,000. Driehaus Capital Management LLC grew its stake in Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after buying an additional 323,153 shares during the period. Swiss National Bank increased its position in shares of Carvana by 6.9% in the third quarter. Swiss National Bank now owns 207,900 shares of the company’s stock worth $36,197,000 after acquiring an additional 13,400 shares in the last quarter. Integrated Advisors Network LLC raised its stake in shares of Carvana by 89.2% in 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 during the period. Finally, Colonial River Investments LLC acquired a new position in shares of Carvana during the 3rd quarter valued at $786,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JMP Securities raised their price objective on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Robert W. Baird upped their price target on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wedbush lifted their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, Needham & Company LLC boosted their target price on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $217.71.

Carvana Trading Down 1.9 %

NYSE:CVNA opened at $255.92 on Wednesday. Carvana Co. has a 52 week low of $29.84 and a 52 week 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 company has a market cap of $53.14 billion, a PE ratio of 25,617.62 and a beta of 3.37. The business’s 50 day moving average is $206.13 and its two-hundred day moving average is $155.75.

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

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 208,495 shares of the 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 sale, the chief financial officer now owns 90,732 shares of the company’s stock, valued at $20,362,982.76. This trade represents a 69.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the transaction, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,218,063 shares of company stock valued at $404,865,579 in the last quarter. Insiders own 17.18% of the company’s stock.

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.