Quantbot Technologies LP Has $8.29 Million Stake in Carvana Co. (NYSE:CVNA)

Quantbot Technologies LP raised its position in Carvana Co. (NYSE:CVNA) by 509.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 47,610 shares of the company’s stock after acquiring an additional 39,794 shares during the period. Quantbot Technologies LP’s holdings in Carvana were worth $8,289,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the business. FMR LLC increased its holdings in Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after buying an additional 5,882,656 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Carvana by 2.7% during the third quarter. The Manufacturers Life Insurance Company now owns 171,389 shares of the company’s stock worth $29,841,000 after acquiring an additional 4,485 shares in the last quarter. Bank of Montreal Can boosted its stake in Carvana by 17.7% in the 3rd quarter. Bank of Montreal Can now owns 239,336 shares of the company’s stock worth $40,634,000 after purchasing an additional 35,922 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in Carvana by 97.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,489 shares of the company’s stock worth $259,000 after acquiring an additional 735 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in Carvana during the third quarter worth about $244,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Up 0.6 %

Shares of NYSE CVNA opened at $260.80 on Tuesday. The stock has a market capitalization of $54.15 billion, a price-to-earnings ratio of 26,106.11 and a beta of 3.37. The firm’s 50-day moving average price is $206.13 and its 200-day moving average price is $155.75. Carvana Co. has a 12-month low of $29.84 and a 12-month high of $268.34. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, equities research analysts anticipate that Carvana Co. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVNA. Needham & Company LLC upped their target price on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Bank of America lifted their target price on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup upped their price target on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of “Hold” and an average target price of $217.71.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $149.16, for a total transaction of $14,916,000.00. Following the transaction, the insider now owns 41,033,131 shares in the company, valued at approximately $6,120,501,819.96. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory B. Sullivan sold 5,000 shares of Carvana stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total transaction of $1,175,000.00. Following the sale, the director now owns 53,407 shares of the company’s stock, valued at $12,550,645. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,318,063 shares of company stock worth $420,434,579 over the last 90 days. Company insiders own 17.18% of the company’s stock.

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.