Tidal Investments LLC Reduces Stock Holdings in Carvana Co. (NYSE:CVNA)

Tidal Investments LLC lowered its stake in shares of Carvana Co. (NYSE:CVNA) by 81.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,743 shares of the company’s stock after selling 66,007 shares during the quarter. Tidal Investments LLC’s holdings in Carvana were worth $2,567,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVNA. Ridgewood Investments LLC purchased a new position in Carvana during the second quarter worth $32,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Carvana in the 3rd quarter worth about $32,000. Summit Securities Group LLC boosted its stake in shares of Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares during the period. Capital Performance Advisors LLP bought a new position in Carvana during the 3rd quarter valued at about $40,000. Finally, Fifth Third Bancorp grew its holdings in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the transaction, the insider now owns 151,029 shares of the company’s stock, valued at $37,440,089.10. The trade was a 14.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 $6,209,010,305. The trade was a 0.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,071,908 shares of company stock valued at $395,374,785. Corporate insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CVNA. Robert W. Baird raised their price objective on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wedbush raised their price target on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Jefferies Financial Group upped their price objective on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Evercore ISI increased their target price on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Finally, Stephens started coverage on shares of Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $222.71.

Carvana Trading Up 0.2 %

NYSE CVNA opened at $248.25 on Monday. Carvana Co. has a one year low of $40.21 and a one year high of $268.34. 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 company 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’s 50-day simple moving average is $228.64 and its two-hundred day simple moving average is $169.36.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. Equities analysts forecast that Carvana Co. will post 0.76 EPS for the current fiscal year.

Carvana 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.