1,288 Shares in Carvana Co. (NYSE:CVNA) Acquired by CacheTech Inc.

by · The Cerbat Gem

CacheTech Inc. purchased a new stake in Carvana Co. (NYSE:CVNA – Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,288 shares of the company’s stock, valued at approximately $224,000.

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

Wall Street Analyst Weigh In

CVNA has been the topic of a number of recent research reports. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and lifted their target price for the company from $166.00 to $170.00 in a report on Monday, August 19th. Robert W. Baird lifted their price objective on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley increased their target price on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. BTIG Research boosted their price target on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, JMP Securities upped their price objective on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus target price of $208.88.

View Our Latest Stock Report on CVNA

Carvana Price Performance

Shares of NYSE CVNA opened at $229.01 on Friday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. Carvana Co. has a one year low of $27.75 and a one year high of $259.39. The firm has a market capitalization of $47.39 billion, a P/E ratio of 22,901.00 and a beta of 3.44. The company’s fifty day moving average is $174.33 and its two-hundred day moving average is $137.76.

Carvana (NYSE:CVNA – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. Analysts forecast that Carvana Co. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction 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 completion of the transaction, the insider now directly owns 119,494 shares of the company’s stock, valued at approximately $23,659,812. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total value of $14,868,000.00. Following the sale, the insider now directly owns 690,814 shares in the company, valued at $102,710,225.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 14,548 shares of the firm’s 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 transaction, the insider now directly owns 119,494 shares of the company’s stock, valued at approximately $23,659,812. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,738,934 shares of company stock worth $463,538,905 in the last quarter. Company insiders own 17.12% of the company’s stock.

About Carvana

(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.

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