Diversified Trust Co Buys 2,678 Shares of Carvana Co. (NYSE:CVNA)

Diversified Trust Co grew its stake in shares of Carvana Co. (NYSE:CVNA) by 123.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,848 shares of the company’s stock after buying an additional 2,678 shares during the period. Diversified Trust Co’s holdings in Carvana were worth $986,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVNA. FMR LLC lifted its stake in Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Whale Rock Capital Management LLC purchased a new stake in Carvana in the third quarter worth $162,953,000. Sylebra Capital LLC purchased a new stake in Carvana in the second quarter worth $67,686,000. Lord Abbett & CO. LLC lifted its stake in Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock worth $93,754,000 after acquiring an additional 503,824 shares during the period. Finally, Senator Investment Group LP purchased a new stake in Carvana in the second quarter worth $63,767,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Down 0.7 %

CVNA stock opened at $197.00 on Friday. Carvana Co. has a twelve month low of $40.21 and a twelve month high of $268.34. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $40.90 billion, a P/E ratio of 19,719.72 and a beta of 3.38. The business’s 50-day moving average price is $234.92 and its 200-day moving average price is $182.79.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. On average, equities research analysts forecast that Carvana Co. will post 0.76 EPS for the current year.

Insider Activity at Carvana

In related news, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the sale, the insider now owns 119,494 shares of the company’s stock, valued at approximately $23,659,812. This trade represents a 10.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $190.47, for a total value of $19,047,000.00. Following the completion of the sale, the insider now directly owns 38,258,131 shares in the company, valued at approximately $7,287,026,211.57. The trade was a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 951,908 shares of company stock valued at $199,569,285. 17.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of research analyst reports. Piper Sandler raised their price target 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 increased their price objective for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Wedbush increased their price objective on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.94.

About Carvana

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.