First Trust Direct Indexing L.P. Has $360,000 Holdings in Carvana Co. (NYSE:CVNA)

First Trust Direct Indexing L.P. grew its holdings in Carvana Co. (NYSE:CVNA) by 13.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,068 shares of the company’s stock after purchasing an additional 243 shares during the period. First Trust Direct Indexing L.P.’s holdings in Carvana were worth $360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVNA. Sequoia Financial Advisors LLC raised its holdings in shares of Carvana by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock valued at $412,000 after purchasing an additional 500 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Carvana in the first quarter valued at approximately $969,000. Quantbot Technologies LP acquired a new stake in shares of Carvana in the first quarter valued at approximately $1,321,000. SG Americas Securities LLC raised its holdings in shares of Carvana by 315.6% in the first quarter. SG Americas Securities LLC now owns 9,176 shares of the company’s stock valued at $807,000 after purchasing an additional 6,968 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Carvana in the first quarter valued at approximately $3,039,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several analyst reports. Piper Sandler upped their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday. Citigroup upped their price target on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Wedbush upped their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. TD Cowen upped their price target on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upped their price target on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Carvana has an average rating of “Hold” and an average price target of $208.88.

Carvana Trading Down 7.4 %

CVNA stock opened at $229.08 on Monday. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.02 and a current ratio of 3.25. The company’s 50-day simple moving average is $174.33 and its 200 day simple moving average is $138.23. Carvana Co. has a 52 week low of $27.75 and a 52 week high of $259.39. The company has a market capitalization of $47.41 billion, a PE ratio of 22,930.93 and a beta of 3.37.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the company posted $0.23 earnings per share. The company’s revenue was up 31.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Carvana Co. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other Carvana news, Director Ira J. Platt sold 664 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the sale, the director now directly owns 30,227 shares in the company, valued at $4,534,050. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Carvana news, Director Ira J. Platt sold 664 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the sale, the director now directly owns 30,227 shares in the company, valued at $4,534,050. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul W. Breaux sold 30,000 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.22, for a total transaction of $7,206,600.00. Following the sale, the insider now owns 135,025 shares in the company, valued at $32,435,705.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,738,934 shares of company stock worth $463,538,905 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

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.