Holocene Advisors LP Purchases 287,983 Shares of Carvana Co. (NYSE:CVNA)

Holocene Advisors LP boosted its position in Carvana Co. (NYSE:CVNA) by 108.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 554,112 shares of the company’s stock after buying an additional 287,983 shares during the period. Holocene Advisors LP owned approximately 0.27% of Carvana worth $96,476,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CVNA. Ridgewood Investments LLC acquired a new position in shares of Carvana during the 2nd quarter valued at $32,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana during the third quarter valued at about $32,000. Summit Securities Group LLC boosted its position in shares of Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Carvana in the 3rd quarter valued at about $40,000. Finally, Fifth Third Bancorp increased its position in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the sale, the chief operating officer now owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. This represents a 1.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $141.72, for a total transaction of $10,629,000.00. Following the completion of the transaction, the insider now directly owns 40,733,131 shares of the company’s stock, valued at $5,772,699,325.32. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,118,063 shares of company stock valued at $389,949,579. 17.12% of the stock is currently owned by insiders.

Carvana Trading Up 0.3 %

NYSE:CVNA opened at $261.29 on Monday. 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 business has a fifty day moving average price of $213.39 and a 200-day moving average price of $159.35. The firm has a market capitalization of $54.25 billion, a price-to-earnings ratio of 26,068.07 and a beta of 3.37. Carvana Co. has a one year low of $36.53 and a one year high of $268.34.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share 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 the consensus estimate of $3.47 billion. Carvana’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 EPS. Sell-side analysts forecast that Carvana Co. will post 0.76 EPS for the current year.

Analyst Ratings Changes

CVNA has been the subject of several research reports. Wedbush lifted their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Evercore ISI lifted their price target on Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. JMP Securities lifted their target price on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and raised their price objective for the company from $166.00 to $170.00 in a research note on Monday, August 19th. Finally, Stephens began coverage on shares of Carvana in a research note on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $217.71.

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.