Pelham Capital Ltd. Makes New $7.78 Million Investment in Carvana Co. (NYSE:CVNA)

Pelham Capital Ltd. purchased a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,700 shares of the company's stock, valued at approximately $7,783,000. Carvana makes up approximately 4.6% of Pelham Capital Ltd.'s holdings, making the stock its 8th biggest holding.

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A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ridgewood Investments LLC purchased a new position in Carvana in the second quarter worth $32,000. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana in the 3rd quarter worth about $32,000. Summit Securities Group LLC grew its position in Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company's stock valued at $39,000 after buying an additional 3,300 shares during the period. Fifth Third Bancorp increased its holdings in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company's stock worth $43,000 after buying an additional 275 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Carvana in the second quarter worth about $51,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Down 0.3 %

Shares of NYSE CVNA traded down $0.61 on Friday, reaching $191.31. 1,923,048 shares of the company's stock traded hands, compared to its average volume of 4,862,900. The business's 50 day simple moving average is $162.78 and its two-hundred day simple moving average is $128.85. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $196.36. The company has a market cap of $38.75 billion, a price-to-earnings ratio of 83.91 and a beta of 3.44. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

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Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.23 billion. As a group, equities research analysts forecast that Carvana Co. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $130.75, for a total value of $9,806,250.00. Following the completion of the sale, the insider now directly owns 2,090,814 shares in the company, valued at $273,373,930.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Carvana news, Director Ira J. Platt sold 12,178 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $130.33, for a total value of $1,587,158.74. Following the completion of the transaction, the director now directly owns 43,229 shares in the company, valued at $5,634,035.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $130.75, for a total value of $9,806,250.00. Following the completion of the sale, the insider now owns 2,090,814 shares of the company's stock, valued at $273,373,930.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,809,366 shares of company stock worth $446,050,909. Insiders own 17.12% of the company's stock.

Wall Street Analysts Forecast Growth

• Analysts Weigh In: How Will Lower Rates Impact Carvana Stock?

Several equities analysts recently commented on the company. Needham & Company LLC upped their price objective on Carvana from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Wells Fargo & Company raised Carvana from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. Morgan Stanley upped their price objective on shares of Carvana from $75.00 to $110.00 and gave the company an "underweight" rating in a report on Thursday, August 1st. Robert W. Baird assumed coverage on shares of Carvana in a research note on Thursday, August 1st. They issued a "neutral" rating and a $160.00 target price for the company. Finally, Piper Sandler lifted their price objective on shares of Carvana from $105.00 to $151.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $171.76.

Check Out Our Latest Report on CVNA

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.

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