Carvana Co. (NYSE:CVNA) Shares Sold by KP Management LLC

KP Management LLC reduced its stake in shares of Carvana Co. (NYSE:CVNA) by 20.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the company’s stock after selling 2,500 shares during the quarter. KP Management LLC’s holdings in Carvana were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CVNA. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana in the third quarter valued at $32,000. Ridgewood Investments LLC acquired a new stake in Carvana in the 2nd quarter valued at about $32,000. Summit Securities Group LLC grew its stake in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 3,300 shares during the last quarter. Fifth Third Bancorp increased its holdings in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Carvana during the second quarter worth about $51,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of CVNA stock opened at $204.99 on Monday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The firm has a market capitalization of $41.52 billion, a price-to-earnings ratio of 88.83 and a beta of 3.44. Carvana Co. has a one year low of $25.09 and a one year high of $204.99. The company has a 50 day moving average price of $167.97 and a 200 day moving average price of $133.56.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. Sell-side analysts anticipate that Carvana Co. will post 0.29 EPS for the current year.

Insiders Place Their Bets

In related news, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total value of $3,000,000.00. Following the transaction, the insider now owns 359,370 shares in the company, valued at approximately $53,905,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Daniel J. Gill sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the insider now directly owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira J. Platt sold 12,178 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $130.33, for a total value of $1,587,158.74. Following the transaction, the director now owns 43,229 shares in the company, valued at approximately $5,634,035.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,880,891 shares of company stock worth $479,638,935 over the last three months. 17.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. BTIG Research raised their price target on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada raised Carvana to a “sector perform” rating and boosted their price target for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Needham & Company LLC increased their price objective on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Bank of America lifted their price objective on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Carvana has a consensus rating of “Hold” and an average price target of $182.29.

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.