Driehaus Capital Management LLC Sells 120,286 Shares of Carvana Co. $CVNA

Driehaus Capital Management LLC decreased its position in shares of Carvana Co. (NYSE:CVNA) by 25.5% during the 1st quarter, Holdings Channel reports. The fund owned 350,966 shares of the company’s stock after selling 120,286 shares during the quarter. Driehaus Capital Management LLC’s holdings in Carvana were worth $73,380,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. J.Safra Asset Management Corp raised its stake in Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company’s stock worth $709,000 after buying an additional 1,982 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of Carvana in the 4th quarter valued at approximately $51,091,000. Farther Finance Advisors LLC increased its stake in Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company’s stock worth $740,000 after purchasing an additional 2,678 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Carvana during the 4th quarter worth approximately $36,527,000. Finally, Brucke Financial Inc. acquired a new position in shares of Carvana in the fourth quarter valued at approximately $415,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JMP Securities boosted their price objective on shares of Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Carvana from $350.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Wedbush raised Carvana to a “hold” rating in a report on Thursday, May 8th. Evercore ISI lifted their price target on Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a report on Tuesday, August 12th. Finally, Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective on the stock in a report on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average target price of $383.47.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $376.75 on Friday. Carvana Co. has a 12-month low of $124.39 and a 12-month high of $413.33. The company’s 50 day moving average price is $345.70 and its two-hundred day moving average price is $281.81. The firm has a market cap of $81.08 billion, a PE ratio of 94.42, a PEG ratio of 1.21 and a beta of 3.57. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm’s quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the sale, the insider owned 37,092,317 shares of the company’s stock, valued at approximately $12,870,663,075.83. This trade represents a 0.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 2,865,507 shares of company stock valued at $1,003,408,791 over the last quarter. Company insiders own 17.12% of the company’s stock.

About Carvana

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.