Tidal Investments LLC Sells 66,007 Shares of Carvana Co. (NYSE:CVNA)

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

A number of other institutional investors have also recently made changes to their positions in CVNA. Ridgewood Investments LLC bought a new position in Carvana during the second quarter valued at approximately $32,000. Sugarloaf Wealth Management LLC purchased a new stake in Carvana during the 3rd quarter valued at $32,000. Summit Securities Group LLC lifted its holdings in shares of Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 3,300 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Carvana in the 3rd quarter worth $40,000. Finally, Fifth Third Bancorp grew its holdings in shares of Carvana by 450.8% in 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. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Activity at Carvana

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the transaction, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark W. Jenkins sold 208,495 shares of the company’s stock in a transaction that occurred 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 directly owns 90,732 shares in the company, valued at $20,362,982.76. This trade represents a 69.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,071,908 shares of company stock valued at $395,374,785. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CVNA shares. Wells Fargo & Company increased their target price on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Robert W. Baird increased 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. Bank of America boosted their target price on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JMP Securities upped their target price on shares of Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana presently has a consensus rating of “Hold” and a consensus price target of $222.71.

Carvana Stock Performance

NYSE CVNA opened at $248.25 on Monday. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a twelve month low of $40.21 and a twelve month high of $268.34. The business has a 50-day moving average price of $228.64 and a 200-day moving average price of $169.36. The firm has a market cap of $51.54 billion, a price-to-earnings ratio of 24,825.00 and a beta of 3.32.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 earnings per share. As a group, equities research analysts predict that Carvana Co. will post 0.76 EPS 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.