Short Interest in Carvana Co. (NYSE:CVNA) Drops By 6.3%

Carvana Co. (NYSE:CVNA) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 13,640,000 shares, a drop of 6.3% from the September 30th total of 14,550,000 shares. Based on an average trading volume of 3,330,000 shares, the short-interest ratio is presently 4.1 days.

Insiders Place Their Bets

In other news, Director Ira J. Platt sold 664 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the transaction, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ira J. Platt sold 664 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the transaction, the director now directly owns 30,227 shares of the company’s stock, valued at approximately $4,534,050. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $137.84, for a total transaction of $10,338,000.00. Following the transaction, the insider now owns 1,240,814 shares in the company, valued at approximately $171,033,801.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,738,934 shares of company stock worth $463,538,905 over the last three months. Insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently bought and sold shares of CVNA. PNC Financial Services Group Inc. raised its position in shares of Carvana by 63.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock worth $131,000 after acquiring an additional 965 shares in the last quarter. Diversified Trust Co increased its holdings in Carvana by 53.3% in the first quarter. Diversified Trust Co now owns 8,678 shares of the company’s stock worth $763,000 after purchasing an additional 3,019 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Carvana by 9.2% in the first quarter. Principal Financial Group Inc. now owns 12,702 shares of the company’s stock valued at $1,117,000 after buying an additional 1,068 shares during the period. HB Wealth Management LLC bought a new position in shares of Carvana during the 1st quarter worth approximately $244,000. Finally, Sequoia Financial Advisors LLC grew its position in shares of Carvana by 11.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after buying an additional 500 shares during the period. Institutional investors own 56.71% of the company’s stock.

Carvana Trading Down 7.4 %

NYSE CVNA opened at $229.01 on Friday. Carvana has a 12 month low of $27.75 and a 12 month high of $259.39. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The firm has a market capitalization of $47.39 billion, a PE ratio of 22,901.00 and a beta of 3.44. The business’s 50-day moving average price is $174.33 and its two-hundred day moving average price is $137.76.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. On average, analysts expect that Carvana will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

CVNA has been the topic of several analyst reports. TD Cowen increased their target price on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. DA Davidson upped their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. BTIG Research increased their price target on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. 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. Finally, JMP Securities upped their target price on Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $208.88.

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.