World Investment Advisors LLC Acquires Shares of 11,540 Carvana Co. (NYSE:CVNA)

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

A number of other hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in shares of Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying an additional 5,882,656 shares during the period. Whale Rock Capital Management LLC bought a new stake in shares of Carvana in the 3rd quarter worth $162,953,000. Sylebra Capital LLC bought a new stake in shares of Carvana in the 2nd quarter worth $67,686,000. Senator Investment Group LP bought a new stake in shares of Carvana in the 2nd quarter worth $63,767,000. Finally, Driehaus Capital Management LLC increased its holdings in shares of Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CVNA. Citigroup lifted their price objective on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Royal Bank of Canada raised Carvana to a “sector perform” rating and boosted their price target for the company from $166.00 to $170.00 in a report on Monday, August 19th. Piper Sandler boosted their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird boosted their price target on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC boosted their price objective on Carvana from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $222.71.

Insider Buying and Selling at Carvana

In other news, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the transaction, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the transaction, the chief operating officer now directly owns 218,686 shares in the company, valued at approximately $52,484,640. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,071,908 shares of company stock worth $395,374,785 over the last ninety days. Company insiders own 17.12% of the company’s stock.

Carvana Price Performance

NYSE:CVNA opened at $248.25 on Friday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The company has a market capitalization of $51.54 billion, a P/E ratio of 24,825.00 and a beta of 3.32. Carvana Co. has a 12 month low of $40.21 and a 12 month high of $268.34. The business’s 50-day moving average is $228.64 and its 200 day moving average is $168.91.

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 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 last year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities research analysts forecast that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

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.