Carvana Co. (NYSE:CVNA) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in Carvana Co. (NYSE:CVNA) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,110 shares of the company’s stock after selling 23,622 shares during the period. Assenagon Asset Management S.A. owned about 0.14% of Carvana worth $49,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sugarloaf Wealth Management LLC acquired a new stake in Carvana in the third quarter valued at approximately $32,000. Ridgewood Investments LLC purchased a new stake in shares of Carvana in the 2nd quarter valued at approximately $32,000. Summit Securities Group LLC raised its holdings in shares of 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 in the last quarter. Fifth Third Bancorp lifted its position in shares of Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Carvana during the second quarter worth $51,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Up 1.4 %

Shares of Carvana stock opened at $200.19 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 $40.55 billion, a price-to-earnings ratio of 87.80 and a beta of 3.44. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $203.24. The company’s 50-day simple moving average is $167.04 and its 200-day simple moving average is $132.01.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. As a group, equities research analysts anticipate that Carvana Co. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

CVNA has been the subject of a number of recent analyst reports. Needham & Company LLC lifted their price target on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. DA Davidson upped their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Robert W. Baird assumed coverage on shares of Carvana in a research note on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price target on the stock. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and upped their target price for the company from $166.00 to $170.00 in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Carvana from $185.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. 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 company’s stock. According to data from MarketBeat, Carvana has a consensus rating of “Hold” and a consensus target price of $182.29.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill sold 41,163 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $200.11, for a total transaction of $8,237,127.93. Following the sale, the insider now owns 283,287 shares of the company’s stock, valued at approximately $56,688,561.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Daniel J. Gill sold 41,163 shares of Carvana stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $200.11, for a total transaction of $8,237,127.93. Following the completion of the transaction, the insider now directly owns 283,287 shares of the company’s stock, valued at approximately $56,688,561.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total value of $14,868,000.00. Following the completion of the sale, the insider now directly owns 690,814 shares in the company, valued at $102,710,225.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,840,077 shares of company stock valued at $466,398,541 in the last ninety days. 17.12% of the stock is currently owned by company insiders.

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.