Calamos Advisors LLC Makes New Investment in Carvana Co. (NYSE:CVNA)

Calamos Advisors LLC bought a new position in Carvana Co. (NYSE:CVNA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,439 shares of the company’s stock, valued at approximately $1,106,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in Carvana by 804.0% during the 3rd quarter. SG Americas Securities LLC now owns 9,989 shares of the company’s stock valued at $1,739,000 after acquiring an additional 8,884 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Carvana by 16.6% during the third quarter. Handelsbanken Fonder AB now owns 27,400 shares of the company’s stock valued at $4,771,000 after purchasing an additional 3,900 shares during the period. GAMMA Investing LLC boosted its stake in shares of Carvana by 32.8% during the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock valued at $106,000 after purchasing an additional 150 shares during the period. Atomi Financial Group Inc. purchased a new stake in Carvana during the 3rd quarter valued at $288,000. Finally, Sugarloaf Wealth Management LLC purchased a new stake in Carvana during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CVNA shares. Piper Sandler increased their target price on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Evercore ISI increased their price objective on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Wells Fargo & Company dropped their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Robert W. Baird raised their price target on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $244.88.

Insiders Place Their Bets

In other news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the transaction, the insider now directly owns 191,225 shares of the company’s stock, valued at $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the transaction, the chief financial officer now directly owns 189,097 shares of the company’s stock, valued at $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,845 shares of company stock valued at $30,742,656. Insiders own 17.18% of the company’s stock.

Carvana Price Performance

CVNA opened at $256.08 on Thursday. 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 firm has a market cap of $53.17 billion, a PE ratio of 25,633.83 and a beta of 3.37. Carvana Co. has a 1 year low of $43.87 and a 1 year high of $268.34. The stock has a 50-day moving average price of $230.46 and a 200-day moving average price of $196.87.

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.