255,800 Shares in Carvana Co. (NYSE:CVNA) Acquired by Avala Global LP

Avala Global LP purchased a new stake in Carvana Co. (NYSE:CVNA) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 255,800 shares of the company’s stock, valued at approximately $44,537,000. Carvana makes up 2.9% of Avala Global LP’s portfolio, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVNA. Cetera Investment Advisers boosted its position in shares of Carvana by 171.7% during the 1st quarter. Cetera Investment Advisers now owns 20,862 shares of the company’s stock worth $1,834,000 after purchasing an additional 13,185 shares in the last quarter. Cetera Advisors LLC bought a new position in Carvana in the first quarter worth approximately $461,000. GAMMA Investing LLC grew its stake in Carvana by 127.9% in the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after acquiring an additional 257 shares during the period. Hilltop National Bank acquired a new stake in Carvana in the second quarter valued at approximately $68,000. Finally, CWM LLC increased its holdings in shares of Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Trading Up 2.1 %

NYSE CVNA opened at $260.42 on Monday. The stock has a market capitalization of $54.07 billion, a price-to-earnings ratio of 26,068.07 and a beta of 3.37. The business’s fifty day moving average is $213.39 and its 200-day moving average is $159.35. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. Carvana Co. has a one year low of $29.84 and a one year high of $268.34.

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

Insider Buying and Selling

In other news, Director Gregory B. Sullivan sold 5,000 shares of Carvana stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the transaction, the director now owns 53,407 shares in the company, valued at $12,550,645. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul W. Breaux sold 14,548 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the completion of the sale, the insider now directly owns 119,494 shares in the company, valued at approximately $23,659,812. This trade represents a 10.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,118,063 shares of company stock valued at $389,949,579. 17.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVNA. Wedbush increased 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. Citigroup raised their price objective on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. 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. Stephens started coverage on shares of Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.