Carvana Co. (NYSE:CVNA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in Carvana Co. (NYSE:CVNA) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,168 shares of the company’s stock after selling 150 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Carvana were worth $552,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CVNA. Price T Rowe Associates Inc. MD boosted its holdings in shares of Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after purchasing an additional 2,112,463 shares during the last quarter. Sylebra Capital LLC acquired a new position in shares of Carvana in the 2nd quarter valued at $67,686,000. Senator Investment Group LP acquired a new position in shares of Carvana in the 2nd quarter valued at $63,767,000. Driehaus Capital Management LLC boosted 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 valued at $74,888,000 after purchasing an additional 323,153 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Carvana in the 2nd quarter valued at $39,997,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other news, 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 value of $730,320.00. Following the completion of the sale, the chief operating officer now owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the transaction, the director now directly owns 30,227 shares of the company’s stock, valued at approximately $4,534,050. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Benjamin E. Huston sold 3,043 shares of Carvana 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 completion of the transaction, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at $52,484,640. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,738,934 shares of company stock valued at $463,538,905. Insiders own 17.12% of the company’s stock.

Carvana Stock Performance

Carvana stock opened at $229.01 on Friday. Carvana Co. has a 12-month low of $27.75 and a 12-month high of $259.39. The company has a market capitalization of $47.39 billion, a price-to-earnings ratio of 22,901.00 and a beta of 3.44. 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 firm’s fifty day moving average price is $174.33 and its 200 day moving average price is $137.76.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share 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. Carvana’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. On average, research analysts forecast that Carvana Co. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the topic of a number of research analyst reports. Bank of America lifted their price target on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI raised their target price on shares of Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday. Jefferies Financial Group raised their target price on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their target price on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Stephens began coverage on shares of Carvana in a research note on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Carvana currently has an average rating of “Hold” and an average price target of $208.88.

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.