Fmr LLC Has $2.15 Billion Stock Holdings in Carvana Co. (NYSE:CVNA)

Fmr LLC grew its stake in shares of Carvana Co. (NYSE:CVNA) by 90.8% during the 3rd quarter, Holdings Channel reports. The firm owned 12,361,790 shares of the company’s stock after buying an additional 5,882,656 shares during the period. Fmr LLC owned about 0.06% of Carvana worth $2,152,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lingotto Investment Management LLP lifted its stake in Carvana by 1.4% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after purchasing an additional 52,833 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Carvana by 12.2% in the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after buying an additional 88,500 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after acquiring an additional 323,153 shares during the period. Sylebra Capital LLC acquired a new position in shares of Carvana during the 2nd quarter worth approximately $67,686,000. Finally, Point72 Asset Management L.P. raised its stake in Carvana by 14.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 511,333 shares of the company’s stock valued at $65,819,000 after acquiring an additional 63,792 shares during the period. Institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CVNA shares. JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Stephens started coverage on shares of Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price for the company. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and increased their price target for the company from $166.00 to $170.00 in a report on Monday, August 19th. Wells Fargo & Company boosted their price objective on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Citigroup increased their target price on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $217.71.

Carvana Price Performance

CVNA stock opened at $255.92 on Wednesday. The company’s 50-day moving average price is $206.13 and its two-hundred day moving average price is $155.75. The firm has a market cap of $53.14 billion, a P/E ratio of 25,617.62 and a beta of 3.37. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a 12 month low of $29.84 and a 12 month high of $268.34.

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

Insider Transactions at Carvana

In other Carvana news, Director Gregory B. Sullivan sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the transaction, the director now owns 53,407 shares of the company’s stock, valued at $12,550,645. This represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 20,000 shares of Carvana stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the sale, the chief financial officer now owns 170,732 shares in the company, valued at approximately $41,279,582.96. This represents a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,218,063 shares of company stock valued at $404,865,579. Corporate insiders own 17.18% of the company’s stock.

About Carvana

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.