BOCHK Asset Management Ltd Acquires Shares of 600 Carvana Co. (NYSE:CVNA)

BOCHK Asset Management Ltd bought a new position in Carvana Co. (NYSE:CVNA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 600 shares of the company’s stock, valued at approximately $104,000.

Several other hedge funds also recently made changes to their positions in the company. Lecap Asset Management Ltd. bought a new stake in shares of Carvana during the third quarter valued at approximately $1,443,000. Private Advisor Group LLC grew its position in shares of Carvana by 16.7% in the 3rd quarter. Private Advisor Group LLC now owns 30,514 shares of the company’s stock worth $5,313,000 after buying an additional 4,372 shares during the period. Signaturefd LLC increased its stake in shares of Carvana by 30.9% in the 3rd quarter. Signaturefd LLC now owns 1,842 shares of the company’s stock worth $321,000 after acquiring an additional 435 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Carvana by 2.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock valued at $1,066,000 after acquiring an additional 175 shares during the period. Finally, Warren Street Wealth Advisors LLC bought a new stake in Carvana during the third quarter worth about $225,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the insider now owns 359,370 shares in the company, valued at $53,905,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Mark W. Jenkins sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.14, for a total value of $730,700.00. Following the completion of the sale, the chief financial officer now owns 180,609 shares in the company, valued at approximately $26,394,199.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Gill sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the transaction, the insider now owns 359,370 shares in the company, valued at $53,905,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,859,366 shares of company stock worth $465,069,909. Insiders own 17.12% of the company’s stock.

Carvana Stock Performance

NYSE CVNA traded up $1.67 on Thursday, reaching $199.01. 1,618,772 shares of the stock were exchanged, compared to its average volume of 4,809,600. The firm has a market capitalization of $40.31 billion, a PE ratio of 86.57 and a beta of 3.44. Carvana Co. has a one year low of $25.09 and a one year high of $203.24. The company’s 50-day simple moving average is $166.07 and its two-hundred day simple moving average is $131.53. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Analysts expect that Carvana Co. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVNA shares. BTIG Research lifted their target price on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup raised their price target on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Wedbush increased their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. DA Davidson lifted their target price on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group increased their price target on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $182.29.

Carvana 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.