Alpha DNA Investment Management LLC Buys New Holdings in Carvana Co. (NYSE:CVNA)

Alpha DNA Investment Management LLC purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,120 shares of the company’s stock, valued at approximately $891,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP boosted its position in Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after purchasing an additional 52,833 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Carvana by 12.2% in the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after purchasing an additional 88,500 shares during the last quarter. Driehaus Capital Management LLC raised its position in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares during the period. Finally, Sylebra Capital LLC acquired a new stake in shares of Carvana during the 2nd quarter worth about $67,686,000. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research reports. Evercore ISI upped their price target on shares of Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. BTIG Research increased their target price on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler lifted their price target on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company upped 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, Royal Bank of Canada raised Carvana to a “sector perform” rating and lifted their target price for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $217.71.

Insider Transactions at Carvana

In other Carvana news, Director Gregory B. Sullivan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the transaction, the director now directly owns 53,407 shares in the company, valued at approximately $12,550,645. This represents a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 20,000 shares of Carvana stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the transaction, the chief financial officer now owns 170,732 shares in the company, valued at approximately $41,279,582.96. This trade represents a 10.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,327,249 shares of company stock valued at $421,876,322. Corporate insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of NYSE:CVNA opened at $259.36 on Friday. The firm has a 50 day moving average of $203.96 and a 200-day moving average of $154.47. Carvana Co. has a 12 month low of $29.84 and a 12 month high of $263.61. 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 stock has a market capitalization of $53.85 billion, a PE ratio of 25,961.96 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, 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.