543,394 Shares in Carvana Co. $CVNA Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 543,394 shares of the company’s stock, valued at approximately $183,102,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of Carvana during the 2nd quarter worth about $25,000. Brooklyn Investment Group boosted its stake in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after buying an additional 125 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares in the last quarter. LRI Investments LLC acquired a new position in Carvana during the second quarter worth $42,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Carvana in the second quarter valued at about $49,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Price Performance

Carvana stock opened at $382.57 on Wednesday. The firm has a market cap of $83.22 billion, a PE ratio of 87.34, a price-to-earnings-growth ratio of 1.36 and a beta of 3.51. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The stock’s fifty day moving average price is $344.95 and its two-hundred day moving average price is $344.00.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the prior year, the business earned $0.64 earnings per share. Carvana’s quarterly revenue was up 54.5% compared to the same quarter last year. As a group, research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 12,750 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $376.07, for a total transaction of $4,794,892.50. Following the sale, the chief financial officer directly owned 204,923 shares in the company, valued at approximately $77,065,392.61. The trade was a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas Taira sold 10,000 shares of the business’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $375.01, for a total transaction of $3,750,100.00. Following the completion of the sale, the insider directly owned 106,507 shares in the company, valued at approximately $39,941,190.07. This represents a 8.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 376,452 shares of company stock worth $137,631,540 in the last ninety days. Insiders own 16.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CVNA shares. Jefferies Financial Group reiterated a “buy” rating on shares of Carvana in a research report on Tuesday, November 25th. UBS Group initiated coverage on shares of Carvana in a report on Monday. They issued a “buy” rating and a $450.00 price target for the company. Evercore ISI reduced their price target on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating for the company in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Carvana in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $500.00 price objective on shares of Carvana in a report on Monday, November 17th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average target price of $422.10.

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.