Multiple hedge funds and institutional investors have changed their positions in Carvana. GAMMA Investing LLC increased its stake by 32.8%, owning 608 shares worth $106,000 after a purchase of 150 shares. Handelsbanken Fonder AB raised its holdings by 16.6%, now at 27,400 shares worth $4.77 million after acquiring 3,900 shares. SG Americas Securities LLC boosted its stake by 804%, owning 9,989 shares worth $1.74 million after buying an additional 8,884 shares. The Healthcare of Ontario Pension Plan Trust Fund bought new shares valued at $37.73 million, and Maven Securities LTD purchased shares worth $270,000. Overall, hedge funds and institutions own 56.71% of Carvana’s stock.
Analysts Expect Growth
Carvana (CVNA) has received varied ratings from analysts. Stephens initiated coverage with an “overweight” rating and a $190 price target. Robert W. Baird rated it “neutral” with a $160 target. JPMorgan Chase increased its target from $185 to $230 with an “overweight” rating. JMP Securities gave a “market outperform” rating with a $200 target, while Bank of America raised its target from $185 to $210 with a “buy” rating. Currently, one analyst rates it a sell, ten hold, and eight buy, resulting in a consensus “Hold” rating with a price target of $171.76.
Carvana’s Stock Performance
CVNA stock opened at $192.25. Its 50-day moving average is $157.06 and 200-day is $125.52. The market cap is $38.94 billion, with a P/E ratio of 84.32. The stock has ranged between a 12-month low of $25.09 and a high of $194.75. It has a current ratio of 3.11, quick ratio of 2.02, and a debt-to-equity ratio of 47.20. Carvana reported $0.14 EPS and $3.41 billion in revenue for the last quarter, surpassing estimates of $3.23 billion. Analysts predict 0.29 EPS for the current fiscal year.
Insider Trading
Major shareholder Ernest C. Garcia II sold 100,000 shares at $190.70 for $19.07 million on October 9. After this, he owns 38,458,131 shares valued at roughly $7.33 billion. He also sold 75,000 shares at $125.21 on July 24, totaling $9.39 million. In the last 90 days, insiders sold 2,749,366 shares worth $421.37 million, with insiders holding 17.12% of the stock.
About Carvana
Carvana operates an online platform for buying and selling used cars in the U.S. Customers can research vehicles, inspect them, arrange financing and warranties, purchase, and schedule delivery all through the website or app.
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