HighTower Advisors LLC Raises Position in Carvana Co. $CVNA

HighTower Advisors LLC boosted its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 306.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,741 shares of the company's stock after buying an additional 17,146 shares during the period. HighTower Advisors LLC's holdings in Carvana were worth $1,497,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sands Capital Management LLC boosted its stake in Carvana by 44.4% during the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company's stock worth $1,030,798,000 after buying an additional 751,019 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new stake in shares of Carvana in the 1st quarter worth $29,866,000. Gavilan Investment Partners LLC raised its holdings in shares of Carvana by 24.6% during the 4th quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company's stock worth $36,294,000 after acquiring an additional 17,000 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Carvana by 239.6% during the 4th quarter. Hsbc Holdings PLC now owns 221,727 shares of the company's stock worth $93,748,000 after acquiring an additional 156,430 shares during the period. Finally, Swiss National Bank boosted its position in shares of Carvana by 9.9% during the 1st quarter. Swiss National Bank now owns 395,180 shares of the company's stock valued at $124,237,000 after acquiring an additional 35,720 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Buying and Selling at Carvana

In related news, Director Ira Platt sold 15,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,132,500.00. Following the completion of the sale, the director owned 186,470 shares in the company, valued at $14,078,485. The trade was a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Maroone purchased 25,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $61.80 per share, with a total value of $1,545,000.00. Following the completion of the acquisition, the director directly owned 168,573 shares of the company's stock, valued at $10,417,811.40. This represents a 17.41% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 385,775 shares of company stock worth $26,504,588. Corporate insiders own 15.19% of the company's stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of several recent analyst reports. Citizens Jmp cut their target price on Carvana from $103.00 to $83.00 and set a "market outperform" rating for the company in a research note on Thursday, July 30th. BNP Paribas Exane decreased their price target on Carvana from $86.00 to $69.00 and set a "hold" rating on the stock in a research note on Thursday, July 30th. Robert W. Baird set a $72.00 price target on Carvana in a report on Thursday, July 30th. Citigroup reissued a "market outperform" rating on shares of Carvana in a research report on Monday, August 31st. Finally, Zacks Research cut shares of Carvana from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.14.

Carvana Stock Up 0.1%

Shares of NYSE:CVNA opened at $69.22 on Monday. The firm has a market capitalization of $76.17 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 1.99 and a beta of 3.49. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The firm's 50-day moving average is $69.44 and its two-hundred day moving average is $68.43.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the firm posted $1.51 earnings per share. The company's quarterly revenue was up 52.4% compared to the same quarter last year. Analysts predict that Carvana Co. will post 1.68 EPS for the current year.

About Carvana

Carvana Co NYSE: CVNA is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.

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