Fidelis Capital Partners LLC Purchases New Stake in Carvana Co. (NYSE:CVNA)

Fidelis Capital Partners LLC acquired a new position in Carvana Co. (NYSE:CVNA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,490 shares of the company’s stock, valued at approximately $259,000.

Several other institutional investors have also recently added to or reduced their stakes in CVNA. Vanguard Group Inc. lifted its holdings in shares of Carvana by 2.7% in 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. Price T Rowe Associates Inc. MD lifted its stake in Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after buying an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP boosted its holdings in shares of Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Carvana by 12.2% during the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after acquiring an additional 88,500 shares during the period. Finally, Driehaus Capital Management LLC increased its holdings in shares of Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after acquiring an additional 323,153 shares during the period. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

CVNA opened at $247.31 on Friday. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The firm has a market cap of $50.10 billion, a PE ratio of 108.47 and a beta of 3.44. The business has a fifty day simple moving average of $172.95 and a 200-day simple moving average of $136.66. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $259.39.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS. As a group, equities analysts predict that Carvana Co. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ira J. Platt sold 12,178 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $130.33, for a total value of $1,587,158.74. Following the completion of the sale, the director now owns 43,229 shares in the company, valued at approximately $5,634,035.57. This represents a 0.00 % decrease in their position. 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 75,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $137.84, for a total value of $10,338,000.00. Following the completion of the sale, the insider now directly owns 1,240,814 shares of the company’s stock, valued at $171,033,801.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira J. Platt sold 12,178 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $130.33, for a total transaction of $1,587,158.74. Following the sale, the director now owns 43,229 shares of the company’s stock, valued at approximately $5,634,035.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,705,891 shares of company stock worth $455,601,985 over the last ninety days. 17.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler boosted their target price on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday. Bank of America boosted their price objective on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and raised their target price for the company from $166.00 to $170.00 in a research report on Monday, August 19th. TD Cowen boosted their price target on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Stephens assumed coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Carvana has an average rating of “Hold” and a consensus price target of $208.88.

Carvana Company 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.