900 Shares in Carvana Co. $CVNA Purchased by Phraction Management LLC

Key Points

• Phraction Management LLC acquired a new stake in Carvana Co. by purchasing 900 shares valued at approximately $303,000 during the second quarter.
• Several hedge funds have significantly increased their holdings in Carvana, with institutional investors now owning 56.71% of the company's stock.
• Wall Street analysts are optimistic about Carvana, with Piper Sandler and Royal Bank Of Canada both raising their price targets to $440.00 and $460.00, respectively, indicating a strong "overweight" rating.

Phraction Management LLC purchased a new stake in Carvana Co. (NYSE:CVNA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 900 shares of the company's stock, valued at approximately $303,000.

Several other hedge funds have also recently bought and sold shares of CVNA. Hilltop National Bank bought a new stake in shares of Carvana during the second quarter worth approximately $25,000. SJS Investment Consulting Inc. lifted its holdings in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 96 shares during the last quarter. Brooklyn Investment Group boosted its stake in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after purchasing an additional 125 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Carvana in the 1st quarter valued at $33,000. Finally, V Square Quantitative Management LLC bought a new position in Carvana during the 2nd quarter worth $83,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVNA. Piper Sandler raised their price target on shares of Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Stephens restated an "overweight" rating and set a $440.00 target price on shares of Carvana in a research report on Tuesday, September 23rd. Royal Bank Of Canada raised their target price on shares of Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Citigroup reiterated an "outperform" rating on shares of Carvana in a research note on Thursday, July 31st. Finally, Wells Fargo & Company increased their price target on Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Carvana has an average rating of "Moderate Buy" and an average price target of $404.94.

Insider Buying and Selling at Carvana

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total transaction of $390,140.00. Following the sale, the vice president directly owned 43,513 shares of the company's stock, valued at $16,976,161.82. The trade was a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 12,750 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total transaction of $4,963,192.50. Following the transaction, the chief financial officer directly owned 207,362 shares of the company's stock, valued at $80,719,805.74. The trade was a 5.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,307,066 shares of company stock worth $827,792,454 over the last quarter. Insiders own 17.12% of the company's stock.

Carvana Trading Down 0.2%

Shares of CVNA stock opened at $394.49 on Friday. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The stock's fifty day simple moving average is $363.74 and its 200 day simple moving average is $307.57. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The firm has a market capitalization of $84.89 billion, a P/E ratio of 98.87, a P/E/G ratio of 1.30 and a beta of 3.55.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business's revenue for the quarter was up 41.9% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. As a group, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

About Carvana

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.

Want to see what other hedge funds are holding CVNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carvana Co. (NYSE:CVNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.