Sylebra HK Co Ltd purchased a new position in shares of Carvana Co (NASDAQ:CVNA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 457,904 shares of the company’s stock, valued at approximately $9,373,000. Carvana accounts for 0.8% of Sylebra HK Co Ltd’s investment portfolio, making the stock its 16th biggest position. Sylebra HK Co Ltd owned approximately 2.95% of Carvana as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Nationwide Fund Advisors purchased a new stake in Carvana during the 2nd quarter worth about $177,000. ClariVest Asset Management LLC purchased a new stake in Carvana during the 2nd quarter worth about $190,000. Nordea Investment Management AB purchased a new stake in Carvana during the 2nd quarter worth about $190,000. Cubist Systematic Strategies LLC purchased a new stake in Carvana during the 2nd quarter worth about $258,000. Finally, Symmetry Peak Management LLC purchased a new stake in Carvana during the 2nd quarter worth about $307,000.
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Several brokerages have weighed in on CVNA. Wells Fargo & Company restated an “outperform” rating and set a $23.00 price target (up previously from $19.00) on shares of Carvana in a report on Monday, June 19th. Robert W. Baird reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Carvana in a research report on Thursday, September 7th. Wedbush initiated coverage on Carvana in a research report on Monday, July 17th. They set a “neutral” rating and a $25.00 price objective for the company. Consumer Edge reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Carvana in a research report on Monday, October 2nd. Finally, B. Riley initiated coverage on Carvana in a research report on Friday, September 22nd. They set a “sell” rating and a $12.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $20.35.
Carvana Co (CVNA) traded down 1.23% on Friday, hitting $15.26. The stock had a trading volume of 329,107 shares. The company’s 50-day moving average is $16.45 and its 200-day moving average is $16.17. Carvana Co has a one year low of $8.14 and a one year high of $23.70. The stock’s market cap is $236.80 million.
Carvana (NASDAQ:CVNA) last announced its earnings results on Tuesday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.02. The business had revenue of $209.37 million for the quarter, compared to analysts’ expectations of $198.84 million. The firm’s revenue for the quarter was up 142.0% compared to the same quarter last year. On average, analysts anticipate that Carvana Co will post ($1.13) earnings per share for the current fiscal year.
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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