Mirae Asset Global Investments Co. Ltd. Has $2.88 Million Position in Carvana Co. (NYSE:CVNA)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Carvana Co. (NYSE:CVNA) by 64.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 16,931 shares of the company’s stock after buying an additional 6,665 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Carvana were worth $2,875,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in shares of Carvana during the second quarter valued at about $32,000. Sugarloaf Wealth Management LLC acquired a new position in Carvana in the third quarter worth about $32,000. Summit Securities Group LLC raised its position in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp raised its position in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Carvana in the second quarter worth about $51,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the subject of several recent research reports. Needham & Company LLC increased their price target on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group increased their price target on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Wedbush increased their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Stephens initiated coverage on shares of Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective for the company. Finally, BTIG Research raised their price objective on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $182.29.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.14, for a total value of $730,700.00. Following the transaction, the chief financial officer now directly owns 180,609 shares of the company’s stock, valued at approximately $26,394,199.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 15,814 shares of Carvana stock in a transaction on Friday, October 25th. The shares were sold at an average price of $201.16, for a total transaction of $3,181,144.24. Following the transaction, the insider now directly owns 37,442,317 shares of the company’s stock, valued at $7,531,896,487.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total transaction of $730,700.00. Following the transaction, the chief financial officer now directly owns 180,609 shares in the company, valued at approximately $26,394,199.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,805,891 shares of company stock valued at $469,633,185. 17.12% of the stock is currently owned by insiders.

Carvana Price Performance

CVNA opened at $208.76 on Wednesday. Carvana Co. has a one year low of $25.09 and a one year high of $209.24. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The company’s 50 day simple moving average is $170.05 and its 200-day simple moving average is $135.38. The stock has a market capitalization of $42.29 billion, a P/E ratio of 91.56 and a beta of 3.44.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. Sell-side analysts anticipate that Carvana Co. will post 0.29 earnings per share for the current fiscal 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.