Point72 DIFC Ltd Decreases Stock Position in Carvana Co. (NYSE:CVNA)

Point72 DIFC Ltd cut its position in Carvana Co. (NYSE:CVNA) by 40.3% during the third quarter, Holdings Channel reports. The firm owned 15,969 shares of the company’s stock after selling 10,765 shares during the period. Point72 DIFC Ltd’s holdings in Carvana were worth $2,780,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of Carvana in the second quarter valued at about $32,000. Sugarloaf Wealth Management LLC acquired a new stake in Carvana during the third quarter worth about $32,000. Summit Securities Group LLC grew its holdings in Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 3,300 shares during the period. Capital Performance Advisors LLP acquired a new stake in Carvana during the third quarter worth about $40,000. Finally, Fifth Third Bancorp grew its holdings in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction on Monday, November 4th. The stock was sold at an average price of $224.43, for a total value of $46,792,532.85. Following the sale, the chief financial officer now owns 90,732 shares in the company, valued at $20,362,982.76. The trade was a 69.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the sale, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,097,063 shares of company stock worth $393,287,959. 17.12% of the stock is owned by corporate insiders.

Carvana Stock Performance

Shares of Carvana stock opened at $260.07 on Thursday. Carvana Co. has a one year low of $36.53 and a one year high of $268.34. The company has a market cap of $54.00 billion, a price-to-earnings ratio of 26,007.00 and a beta of 3.32. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The business’s 50 day moving average price is $216.65 and its 200 day moving average price is $161.56.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The company 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 posted $0.23 EPS. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, research analysts predict that Carvana Co. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on CVNA shares. JPMorgan Chase & Co. raised their target price on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Royal Bank of Canada raised Carvana to a “sector perform” rating and raised their target price for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Citigroup raised their target price on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Wells Fargo & Company raised their price objective on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, JMP Securities raised their price objective on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $220.94.

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.