QRG Capital Management Inc. Has $1.17 Million Stock Position in Carvana Co. (NYSE:CVNA)

QRG Capital Management Inc. grew its stake in Carvana Co. (NYSE:CVNA) by 16.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,713 shares of the company’s stock after buying an additional 935 shares during the quarter. QRG Capital Management Inc.’s holdings in Carvana were worth $1,169,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Carvana by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after buying an additional 2,112,463 shares in the last quarter. Lingotto Investment Management LLP raised its position in Carvana by 1.4% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after buying an additional 52,833 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Carvana by 12.2% in the 2nd quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after acquiring an additional 88,500 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its position in Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after acquiring an additional 323,153 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Piper Sandler boosted their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stephens started coverage on shares of Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada raised Carvana to a “sector perform” rating and increased their price target for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $217.71.

Carvana Stock Up 1.2 %

Carvana stock opened at $244.33 on Friday. The company’s 50-day moving average price is $182.63 and its two-hundred day moving average price is $143.54. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $50.56 billion, a P/E ratio of 24,457.46 and a beta of 3.37. Carvana Co. has a twelve month low of $27.75 and a twelve month high of $259.39.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, analysts expect that Carvana Co. will post 0.53 EPS for the current year.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $134.06, for a total transaction of $10,054,500.00. Following the transaction, the insider now directly owns 940,814 shares of the company’s stock, valued at approximately $126,125,524.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul W. Breaux sold 14,548 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the sale, the insider now directly owns 119,494 shares of the company’s stock, valued at approximately $23,659,812. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $134.06, for a total value of $10,054,500.00. Following the completion of the transaction, the insider now directly owns 940,814 shares of the company’s stock, valued at approximately $126,125,524.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,810,251 shares of company stock valued at $494,577,629. 17.18% of the stock is owned by company insiders.

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.