QRG Capital Management Inc. Has $1.17 Million Stock Holdings in Carvana Co. (NYSE:CVNA)

QRG Capital Management Inc. lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 16.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,713 shares of the company’s stock after buying an additional 935 shares during the period. QRG Capital Management Inc.’s holdings in Carvana were worth $1,169,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CVNA. Ridgewood Investments LLC acquired a new position in Carvana during the second quarter worth about $32,000. Sugarloaf Wealth Management LLC acquired a new position in Carvana during the 3rd quarter worth approximately $32,000. Summit Securities Group LLC lifted its stake in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the last quarter. Fifth Third Bancorp boosted its position in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Carvana during the second quarter worth $51,000. 56.71% of the stock is currently owned by institutional investors.

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $134.06, for a total transaction of $10,054,500.00. Following the transaction, the insider now directly owns 940,814 shares of the company’s stock, valued at approximately $126,125,524.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, insider Paul W. Breaux sold 14,548 shares of the business’s stock in a transaction 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 owns 119,494 shares in the company, valued at approximately $23,659,812. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $134.06, for a total transaction of $10,054,500.00. Following the completion of the transaction, the insider now directly owns 940,814 shares in the company, valued at $126,125,524.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,810,251 shares of company stock valued at $494,577,629 in the last 90 days. 17.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CVNA shares. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $110.00 to $260.00 in a report on Tuesday. Wells Fargo & Company boosted their price target on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. JMP Securities upped their price objective on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price 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. Finally, Wedbush upped their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana currently has an average rating of “Hold” and a consensus target price of $217.71.

Carvana Price Performance

Shares of CVNA opened at $244.33 on Friday. The firm has a market cap of $50.56 billion, a PE ratio of 24,457.46 and a beta of 3.37. Carvana Co. has a 52-week low of $27.75 and a 52-week high of $259.39. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The business’s 50 day moving average price is $182.63 and its two-hundred day moving average price is $143.54.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the company earned $0.23 earnings per share. The firm’s revenue was up 31.8% compared to the same quarter last year. On average, equities analysts anticipate that Carvana Co. will post 0.53 EPS for the current year.

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.