Caxton Associates LLP Makes New $7.61 Million Investment in Carvana Co. $CVNA

Caxton Associates LLP acquired a new stake in Carvana Co. (NYSE:CVNA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 22,584 shares of the company’s stock, valued at approximately $7,610,000.

Other institutional investors have also made changes to their positions in the company. Hilltop National Bank acquired a new stake in Carvana during the 2nd quarter valued at $25,000. Brooklyn Investment Group boosted its position in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after buying an additional 125 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Carvana during the second quarter valued at about $38,000. Finally, LRI Investments LLC purchased a new stake in shares of Carvana during the second quarter worth about $42,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Daniel J. Gill sold 80,000 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $439.50, for a total transaction of $35,160,000.00. Following the sale, the insider owned 191,106 shares in the company, valued at $83,991,087. This represents a 29.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan S. Keeton sold 32,370 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the completion of the transaction, the insider directly owned 115,456 shares in the company, valued at $34,830,766.08. This represents a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 624,332 shares of company stock worth $251,466,542. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wedbush raised Carvana from a “neutral” rating to an “outperform” rating and increased their price target for the company from $380.00 to $400.00 in a report on Monday, November 24th. Morgan Stanley set a $450.00 target price on Carvana in a research note on Monday, October 20th. Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Citigroup upped their price target on shares of Carvana from $445.00 to $550.00 and gave the company a “buy” rating in a report on Friday. Finally, DA Davidson set a $360.00 price objective on shares of Carvana in a research note on Thursday, October 30th. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $438.76.

Carvana Price Performance

Shares of NYSE CVNA opened at $455.95 on Friday. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $99.19 billion, a price-to-earnings ratio of 104.10, a price-to-earnings-growth ratio of 1.65 and a beta of 3.51. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $485.33. The business has a 50 day simple moving average of $353.83 and a 200-day simple moving average of $351.18.

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

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.