Quadrature Capital Ltd Raises Stock Holdings in Carvana Co. $CVNA

Quadrature Capital Ltd raised its stake in shares of Carvana Co. (NYSE:CVNA) by 474.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 92,515 shares of the company’s stock after purchasing an additional 76,419 shares during the quarter. Quadrature Capital Ltd’s holdings in Carvana were worth $34,922,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Carvana by 5.4% in the third quarter. Vanguard Group Inc. now owns 13,454,986 shares of the company’s stock worth $5,075,759,000 after acquiring an additional 690,756 shares during the period. Capital Research Global Investors raised its holdings in shares of Carvana by 0.5% during the third quarter. Capital Research Global Investors now owns 3,989,809 shares of the company’s stock valued at $1,505,186,000 after purchasing an additional 18,631 shares during the last quarter. State Street Corp lifted its position in Carvana by 15.0% during the second quarter. State Street Corp now owns 2,765,046 shares of the company’s stock valued at $931,710,000 after purchasing an additional 361,624 shares during the period. Geode Capital Management LLC lifted its position in Carvana by 11.0% during the second quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock valued at $750,301,000 after purchasing an additional 221,161 shares during the period. Finally, Sands Capital Management LLC boosted its holdings in Carvana by 87.7% in the third quarter. Sands Capital Management LLC now owns 1,691,515 shares of the company’s stock worth $638,107,000 after purchasing an additional 790,288 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Down 5.4%

Shares of Carvana stock opened at $292.70 on Friday. The company’s fifty day simple moving average is $390.27 and its 200-day simple moving average is $379.11. The stock has a market capitalization of $64.06 billion, a PE ratio of 36.41 and a beta of 3.60. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $486.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, topping the consensus estimate of $1.10 by $3.12. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same period in the prior year, the business posted $0.56 EPS. Carvana’s revenue was up 58.0% on a year-over-year basis. As a group, equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $393.04, for a total value of $393,040.00. Following the completion of the sale, the vice president owned 37,192 shares in the company, valued at $14,617,943.68. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Thomas Taira sold 953 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $325.00, for a total value of $309,725.00. Following the completion of the transaction, the insider directly owned 64,997 shares in the company, valued at $21,124,025. This trade represents a 1.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,574 shares of company stock valued at $21,463,735 in the last ninety days. 17.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of research analyst reports. Citigroup cut their target price on shares of Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft lowered their price target on Carvana from $600.00 to $519.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. DA Davidson cut their price objective on Carvana from $470.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. Evercore reduced their price objective on Carvana from $430.00 to $390.00 in a research report on Thursday, February 19th. Finally, Weiss Ratings raised Carvana from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $440.59.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.