Quadrature Capital Ltd Purchases 76,419 Shares of Carvana Co. $CVNA

Quadrature Capital Ltd increased its position in Carvana Co. (NYSE:CVNA) by 474.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,515 shares of the company’s stock after purchasing an additional 76,419 shares during the period. Quadrature Capital Ltd’s holdings in Carvana were worth $34,922,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVNA. Royal Bank of Canada lifted its position in Carvana by 40.8% during the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after buying an additional 8,654 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after buying an additional 181 shares during the period. Savant Capital LLC grew its position in shares of Carvana by 4.3% in the 2nd quarter. Savant Capital LLC now owns 2,906 shares of the company’s stock worth $979,000 after buying an additional 121 shares during the period. Allworth Financial LP increased its stake in shares of Carvana by 104.9% in the 2nd quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock worth $381,000 after acquiring an additional 579 shares in the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of Carvana in the 2nd quarter worth about $1,369,000. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $393.04, for a total transaction of $393,040.00. Following the sale, the vice president directly owned 37,192 shares in the company, valued at approximately $14,617,943.68. This trade represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $403.02, for a total value of $5,138,505.00. Following the completion of the sale, the chief financial officer directly owned 204,036 shares of the company’s stock, valued at approximately $82,230,588.72. The trade was a 5.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 53,574 shares of company stock worth $21,463,735 over the last 90 days. 17.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several research reports. Bank of America dropped their price objective on shares of Carvana from $460.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Stephens reaffirmed an “overweight” rating and set a $519.00 target price on shares of Carvana in a research note on Thursday, February 19th. JPMorgan Chase & Co. lowered their target price on shares of Carvana from $510.00 to $490.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Morgan Stanley reissued an “overweight” rating on shares of Carvana in a research report on Thursday, January 8th. Finally, BTIG Research cut their price target on Carvana from $535.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $440.59.

Carvana Stock Performance

Shares of CVNA stock opened at $292.70 on Friday. The company has a market capitalization of $64.06 billion, a price-to-earnings ratio of 36.41 and a beta of 3.60. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31. Carvana Co. has a one year low of $148.25 and a one year high of $486.89. The company’s 50-day moving average is $390.27 and its 200 day moving average is $379.11.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $3.12. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The business’s revenue was up 58.0% on a year-over-year basis. Sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.