Jump Financial LLC Has $5.12 Million Stake in Carvana Co. $CVNA

Key Points

• Jump Financial LLC significantly reduced its holdings in Carvana Co. by 80.2% in the first quarter, owning 24,468 shares worth approximately $5.1 million after selling 99,364 shares.
• Analysts have recently upgraded their ratings for Carvana, with Oppenheimer setting a price target of $450.00 and Morgan Stanley raising its target from $280.00 to $290.00.
• Carvana reported quarterly earnings of $1.28 per share, surpassing estimates and achieving a significant 41.9% revenue increase compared to the previous year.

Jump Financial LLC decreased its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 80.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 24,468 shares of the company's stock after selling 99,364 shares during the quarter. Jump Financial LLC's holdings in Carvana were worth $5,116,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. J.Safra Asset Management Corp grew its position in Carvana by 140.8% during the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after buying an additional 1,982 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Carvana in the 4th quarter valued at approximately $51,091,000. Farther Finance Advisors LLC lifted its position in shares of Carvana by 333.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after acquiring an additional 2,678 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Carvana during the 4th quarter worth approximately $36,527,000. Finally, Brucke Financial Inc. acquired a new stake in shares of Carvana during the 4th quarter worth approximately $415,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Insiders Place Their Bets

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $370.71, for a total value of $3,707,100.00. Following the completion of the transaction, the chief executive officer owned 496,440 shares in the company, valued at approximately $184,035,272.40. The trade was a 1.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 2,865,507 shares of company stock worth $1,003,408,791. Company insiders own 17.12% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CVNA. Wells Fargo & Company upped their target price on Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. DA Davidson boosted their price target on shares of Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Stephens raised their price objective on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Evercore ISI lifted their target price on shares of Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a research report on Tuesday, August 12th. Finally, Oppenheimer raised shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price on the stock in a research note on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $383.47.

Carvana Price Performance

Shares of Carvana stock traded down $5.42 during mid-day trading on Friday, reaching $371.96. 1,835,939 shares of the stock were exchanged, compared to its average volume of 2,805,586. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The company has a market cap of $80.05 billion, a price-to-earnings ratio of 93.22, a price-to-earnings-growth ratio of 1.23 and a beta of 3.57. The firm has a 50-day simple moving average of $346.72 and a 200 day simple moving average of $282.62. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same period in the prior year, the firm earned ($0.05) earnings per share. The company's quarterly revenue was up 41.9% compared to the same quarter last year. On average, sell-side analysts predict that Carvana Co. will post 2.85 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.