Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Carvana Co (NYSE:CVNA) by 69.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,485,987 shares of the company’s stock after buying an additional 609,137 shares during the period. Carvana comprises approximately 1.4% of Gilder Gagnon Howe & Co. LLC’s portfolio, making the stock its 16th largest position. Gilder Gagnon Howe & Co. LLC’s holdings in Carvana were worth $178,616,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Signaturefd LLC boosted its position in Carvana by 22.1% during the 2nd quarter. Signaturefd LLC now owns 387 shares of the company’s stock worth $47,000 after buying an additional 70 shares during the period. Stephenson National Bank & Trust boosted its position in Carvana by 9.7% during the 2nd quarter. Stephenson National Bank & Trust now owns 1,724 shares of the company’s stock worth $207,000 after buying an additional 153 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Carvana by 400.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 250 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Carvana by 5.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,445 shares of the company’s stock worth $244,000 after purchasing an additional 228 shares during the period. Finally, ETRADE Capital Management LLC lifted its position in shares of Carvana by 4.7% in the 2nd quarter. ETRADE Capital Management LLC now owns 6,378 shares of the company’s stock worth $767,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 49.70% of the company’s stock.
Shares of NYSE CVNA traded down $11.51 during trading on Friday, hitting $187.00. The stock had a trading volume of 2,737,603 shares, compared to its average volume of 1,545,513. Carvana Co has a 12 month low of $22.16 and a 12 month high of $235.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 4.21 and a quick ratio of 2.52. The company has a market capitalization of $31.91 billion, a PE ratio of -54.84 and a beta of 2.53. The firm has a fifty day moving average of $177.79 and a two-hundred day moving average of $111.07.
Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.86) by $0.24. Carvana had a negative net margin of 4.10% and a negative return on equity of 83.73%. On average, equities analysts expect that Carvana Co will post -3.03 earnings per share for the current fiscal year.
CVNA has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Carvana from a “d” rating to a “c-” rating in a research report on Tuesday, May 12th. Needham & Company LLC initiated coverage on shares of Carvana in a research report on Thursday, August 6th. They issued a “buy” rating and a $200.00 price target on the stock. BofA Securities downgraded shares of Carvana from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $150.00 to $230.00 in a research report on Friday, August 7th. Nomura Instinet boosted their price target on shares of Carvana from $89.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 9th. Finally, Zacks Investment Research lowered shares of Carvana from a “hold” rating to a “sell” rating in a research note on Monday, May 25th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $152.55.
In related news, insider Daniel J. Gill sold 337,500 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $202.38, for a total value of $68,303,250.00. Following the transaction, the insider now directly owns 347,245 shares of the company’s stock, valued at approximately $70,275,443.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul W. Breaux sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $224.00, for a total transaction of $1,680,000.00. Following the completion of the transaction, the insider now directly owns 17,153 shares in the company, valued at $3,842,272. The disclosure for this sale can be found here. In the last quarter, insiders sold 616,000 shares of company stock valued at $125,758,990. Company insiders own 12.25% of the company’s stock.
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 proprietary 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.
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