Alliancebernstein L.P. bought a new position in shares of Carvana Co (NASDAQ:CVNA) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,600 shares of the company’s stock, valued at approximately $565,000. Alliancebernstein L.P. owned approximately 0.18% of Carvana as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC acquired a new stake in shares of Carvana during the 2nd quarter worth $190,000. Rhumbline Advisers acquired a new stake in shares of Carvana during the 2nd quarter worth $392,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Carvana during the 2nd quarter worth $508,000. Wells Fargo & Company MN acquired a new stake in shares of Carvana during the 2nd quarter worth $1,138,000. Finally, Spark Investment Management LLC acquired a new stake in shares of Carvana during the 2nd quarter worth $2,274,000.

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Shares of Carvana Co (CVNA) opened at $14.06 on Friday.

Carvana (NASDAQ:CVNA) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.02. The firm had revenue of $209.37 million for the quarter, compared to analysts’ expectations of $198.84 million. The firm’s quarterly revenue was up 142.0% on a year-over-year basis.

Several research firms have recently issued reports on CVNA. Zacks Investment Research lowered Carvana from a “buy” rating to a “sell” rating in a report on Thursday. Robert W. Baird reissued an “outperform” rating and set a $22.00 target price on shares of Carvana in a report on Thursday, September 7th. Wedbush began coverage on Carvana in a report on Monday, July 17th. They set a “neutral” rating and a $25.00 target price on the stock. Wells Fargo & Company reissued an “outperform” rating and set a $23.00 target price on shares of Carvana in a report on Sunday, August 20th. Finally, Consumer Edge reissued an “outperform” rating and set a $23.00 target price on shares of Carvana in a report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $20.01.

Carvana Profile

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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Institutional Ownership by Quarter for Carvana (NASDAQ:CVNA)

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