Bank of Montreal Can Purchases 35,922 Shares of Carvana Co. (NYSE:CVNA)

Bank of Montreal Can raised its position in shares of Carvana Co. (NYSE:CVNA) by 17.7% in the third quarter, Holdings Channel reports. The fund owned 239,336 shares of the company’s stock after buying an additional 35,922 shares during the quarter. Bank of Montreal Can’s holdings in Carvana were worth $40,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in shares of Carvana in the second quarter valued at about $32,000. Sugarloaf Wealth Management LLC acquired a new position in Carvana in the third quarter worth about $32,000. Summit Securities Group LLC raised its position in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Carvana in the third quarter worth about $40,000. Finally, Fifth Third Bancorp raised its position in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Down 0.4 %

Shares of CVNA stock opened at $254.97 on Friday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana Co. has a 1 year low of $29.84 and a 1 year high of $268.34. The firm’s fifty day moving average price is $209.98 and its two-hundred day moving average price is $157.41. The firm has a market capitalization of $52.94 billion, a P/E ratio of 25,497.00 and a beta of 3.37.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. On average, equities analysts predict that Carvana Co. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVNA has been the subject of several recent analyst reports. JMP Securities raised their price objective on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and raised their price objective for the company from $166.00 to $170.00 in a research note on Monday, August 19th. Jefferies Financial Group raised their price objective on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. DA Davidson lifted their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $217.71.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the sale, the chief operating officer now owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. The trade was a 1.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $135.73, for a total transaction of $10,179,750.00. Following the completion of the sale, the insider now directly owns 40,583,131 shares of the company’s stock, valued at $5,508,348,370.63. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,118,063 shares of company stock worth $389,949,579 in the last ninety days. Insiders own 17.12% of the company’s stock.

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.