Sanctuary Advisors LLC Buys Shares of 1,790 Carvana Co. (NYSE:CVNA)

Sanctuary Advisors LLC bought a new position in Carvana Co. (NYSE:CVNA – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,790 shares of the company’s stock, valued at approximately $312,000.

Several other hedge funds have also modified their holdings of the company. Forum Financial Management LP boosted its holdings in shares of Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after acquiring an additional 76 shares during the last quarter. Empirical Asset Management LLC boosted its holdings in Carvana by 2.0% in the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after purchasing an additional 100 shares during the last quarter. CIBC Asset Management Inc grew its position in Carvana by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock worth $586,000 after purchasing an additional 115 shares during the period. MML Investors Services LLC raised its stake in shares of Carvana by 3.0% during the 3rd quarter. MML Investors Services LLC now owns 4,172 shares of the company’s stock valued at $726,000 after buying an additional 122 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Carvana by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after buying an additional 130 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now directly owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $171.68, for a total transaction of $17,168,000.00. Following the completion of the transaction, the insider now directly owns 39,258,131 shares in the company, valued at $6,739,835,930.08. This represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,541,908 shares of company stock worth $306,473,785. 17.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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A number of research analysts have weighed in on CVNA shares. Stephens began coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Wedbush boosted their price objective on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their target price on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $222.71.

Get Our Latest Report on CVNA

Carvana Trading Down 4.0 %

NYSE CVNA opened at $215.09 on Friday. The company has a market cap of $44.66 billion, a P/E ratio of 21,530.53 and a beta of 3.32. Carvana Co. has a 12 month low of $40.21 and a 12 month high of $268.34. 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 company has a 50-day moving average of $236.57 and a 200-day moving average of $177.25.

Carvana (NYSE:CVNA – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the firm earned $0.23 earnings per share. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, equities analysts predict that Carvana Co. will post 0.76 earnings per share for the current year.

Carvana Company Profile

(Free Report)

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.