Y Intercept Hong Kong Ltd Acquires Shares of 19,576 Carvana Co. $CVNA

Y Intercept Hong Kong Ltd purchased a new position in shares of Carvana Co. (NYSE:CVNA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 19,576 shares of the company’s stock, valued at approximately $6,596,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its stake in shares of Carvana by 112.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 97,771 shares of the company’s stock worth $32,945,000 after acquiring an additional 51,776 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Carvana by 15.6% during the 2nd quarter. Wealthfront Advisers LLC now owns 21,151 shares of the company’s stock worth $7,127,000 after acquiring an additional 2,848 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Carvana during the 2nd quarter worth $225,000. Focus Partners Advisor Solutions LLC grew its stake in shares of Carvana by 42.1% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 4,461 shares of the company’s stock worth $1,502,000 after acquiring an additional 1,321 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Carvana by 3.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 40,937 shares of the company’s stock worth $13,794,000 after acquiring an additional 1,381 shares during the period. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVNA shares. Bank of America increased their price target on Carvana from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Jefferies Financial Group set a $475.00 target price on Carvana and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Needham & Company LLC restated a “buy” rating and issued a $500.00 target price on shares of Carvana in a research note on Friday. Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price for the company in a research note on Friday, July 25th. Finally, William Blair restated an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $419.94.

Carvana Stock Performance

NYSE:CVNA opened at $355.73 on Tuesday. The business’s 50-day moving average price is $363.60 and its two-hundred day moving average price is $327.51. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The stock has a market cap of $76.55 billion, a P/E ratio of 89.16, a PEG ratio of 1.12 and a beta of 3.55. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the firm posted ($0.05) EPS. The company’s revenue was up 41.9% compared to the same quarter last year. As a group, equities analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $398.00, for a total value of $5,970,000.00. Following the sale, the insider owned 81,716 shares of the company’s stock, valued at $32,522,968. This trade represents a 15.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark W. Jenkins sold 12,750 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total value of $4,963,192.50. Following the completion of the sale, the chief financial officer directly owned 207,362 shares in the company, valued at approximately $80,719,805.74. The trade was a 5.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,428,292 shares of company stock worth $524,442,852. 16.36% of the stock is owned by insiders.

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.