95,000 Shares in Carvana Co. $CVNA Acquired by Capricorn Fund Managers Ltd

Capricorn Fund Managers Ltd acquired a new stake in Carvana Co. (NYSE:CVNA) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 95,000 shares of the company’s stock, valued at approximately $29,866,000. Carvana comprises about 4.7% of Capricorn Fund Managers Ltd’s portfolio, making the stock its biggest holding.

Several other institutional investors have also added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD boosted its holdings in shares of Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after purchasing an additional 1,407,762 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Carvana by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after buying an additional 3,328,115 shares in the last quarter. State Street Corp raised its holdings in shares of Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after buying an additional 2,764,759 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after buying an additional 1,711,144 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after buying an additional 1,382,852 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Robert W. Baird set a $88.00 price target on shares of Carvana in a research note on Friday, May 15th. BNP Paribas Exane raised their price target on shares of Carvana from $77.60 to $85.80 in a research note on Thursday, April 30th. Citizens Jmp lifted their price target on shares of Carvana from $92.00 to $103.00 and gave the company a “market outperform” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group lowered their price objective on shares of Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Insider Buying and Selling

In related news, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.42, for a total value of $352,100.00. Following the completion of the sale, the vice president directly owned 152,955 shares in the company, valued at $10,771,091.10. This represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.40, for a total value of $4,488,000.00. Following the transaction, the chief financial officer directly owned 1,036,594 shares of the company’s stock, valued at approximately $72,976,217.60. This represents a 5.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 297,062 shares of company stock valued at $21,683,833 over the last quarter. 15.19% of the stock is currently owned by company insiders.

Carvana Stock Performance

Shares of CVNA stock opened at $65.86 on Wednesday. The business’s 50-day moving average price is $70.87 and its 200-day moving average price is $74.29. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The firm has a market capitalization of $72.24 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 10.75 and a beta of 3.45. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. Equities research analysts forecast that Carvana Co. will post 1.58 EPS for the current year.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.