SG Americas Securities LLC Lowers Stock Holdings in Carvana Co. (NYSE:CVNA)

SG Americas Securities LLC lowered its holdings in Carvana Co. (NYSE:CVNAFree Report) by 64.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,502 shares of the company’s stock after selling 6,487 shares during the period. SG Americas Securities LLC’s holdings in Carvana were worth $712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its holdings in Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after acquiring an additional 5,882,656 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Carvana during the third quarter worth about $162,953,000. Lord Abbett & CO. LLC lifted its stake in shares of Carvana by 1,454.1% during the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock worth $93,754,000 after purchasing an additional 503,824 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Carvana during the second quarter worth about $37,728,000. Finally, Eagle Asset Management Inc. acquired a new position in shares of Carvana during the third quarter worth about $50,531,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the topic of a number of recent research reports. Piper Sandler boosted their price objective on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Bank of America lifted their target price on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group increased their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Thursday, January 2nd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.94.

Read Our Latest Analysis on Carvana

Carvana Stock Performance

Shares of CVNA stock opened at $245.10 on Thursday. The stock has a market cap of $50.89 billion, a P/E ratio of 24,534.43 and a beta of 3.38. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company has a fifty day moving average price of $230.89 and a two-hundred day moving average price of $192.84. Carvana Co. has a one year low of $40.21 and a one year high of $268.34.

Carvana (NYSE:CVNAGet Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the business posted $0.23 EPS. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. As a group, equities analysts predict that Carvana Co. will post 0.88 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the transaction, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 347,340 shares of company stock valued at $81,044,588 in the last ninety days. 17.12% of the stock is currently owned by company insiders.

Carvana Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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