Carvana Co. (NYSE:CVNA) Stock Position Reduced by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV trimmed its position in Carvana Co. (NYSE:CVNA) by 50.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150 shares of the company’s stock after selling 150 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Carvana were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares during the last quarter. Sylebra Capital LLC acquired a new position in Carvana during the 2nd quarter valued at approximately $67,686,000. Senator Investment Group LP bought a new position in Carvana during the 2nd quarter worth $63,767,000. Driehaus Capital Management LLC increased its position in Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after buying an additional 323,153 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Carvana in the second quarter valued at $39,997,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was 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 owns 690,814 shares of the company’s stock, valued at $102,710,225.52. This trade 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 this link. Also, Director Ira J. Platt sold 12,178 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $130.33, for a total value of $1,587,158.74. Following the transaction, the director now directly owns 43,229 shares in the company, valued at $5,634,035.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,663,934 shares of company stock worth $453,200,905. Company insiders own 17.18% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Stephens assumed coverage on Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective for the company. DA Davidson raised their target price on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $110.00 to $260.00 in a research report on Tuesday. Finally, BTIG Research raised their price target on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $217.71.

Carvana Trading Up 4.3 %

Shares of NYSE:CVNA opened at $235.78 on Wednesday. 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 stock has a market capitalization of $48.79 billion, a price-to-earnings ratio of 23,578.00 and a beta of 3.37. Carvana Co. has a 1-year low of $27.75 and a 1-year high of $259.39. The company has a 50 day moving average price of $175.69 and a 200 day moving average price of $139.81.

Carvana (NYSE:CVNA) last announced 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 period last year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, research analysts anticipate that Carvana Co. will post 0.53 EPS for the current fiscal 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.