11,540 Shares in Carvana Co. (NYSE:CVNA) Acquired by World Investment Advisors LLC

World Investment Advisors LLC acquired a new position in Carvana Co. (NYSE:CVNA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,540 shares of the company’s stock, valued at approximately $2,009,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVNA. CWM LLC grew its stake in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after purchasing an additional 144 shares in the last quarter. Blue Trust Inc. purchased a new stake in Carvana during the second quarter worth $106,000. Raymond James & Associates lifted its holdings in Carvana by 154.1% during the second quarter. Raymond James & Associates now owns 10,544 shares of the company’s stock worth $1,357,000 after buying an additional 6,394 shares during the period. Fifth Third Bancorp lifted 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 buying an additional 275 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Carvana by 3,218.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the company’s stock worth $427,000 after buying an additional 3,218 shares during the period. Institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVNA. Piper Sandler upped their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and upped their target price for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Needham & Company LLC upped their target price on Carvana from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Wedbush increased their price objective on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group increased their price objective on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Carvana has a consensus rating of “Hold” and a consensus target price of $222.71.

Carvana Stock Performance

Shares of CVNA stock opened at $248.25 on Friday. The firm has a market capitalization of $51.54 billion, a price-to-earnings ratio of 24,825.00 and a beta of 3.32. 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 business has a fifty day moving average of $228.64 and a 200 day moving average of $168.91. Carvana Co. has a 1 year low of $40.21 and a 1 year high of $268.34.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The business’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. As a group, research analysts expect that Carvana Co. will post 0.76 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the insider now directly owns 40,058,131 shares of the company’s stock, valued at approximately $6,209,010,305. This trade represents a 0.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $247.90, for a total value of $6,159,075.50. Following the sale, the insider now directly owns 151,029 shares in the company, valued at $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,071,908 shares of company stock worth $395,374,785 in the last 90 days. Insiders own 17.12% 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.