Point72 Hong Kong Ltd acquired a new stake in Carvana Co (NYSE:CVNA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,640 shares of the company’s stock, valued at approximately $335,000.

A number of other institutional investors have also recently made changes to their positions in CVNA. Voya Investment Management LLC grew its stake in Carvana by 11.9% in the third quarter. Voya Investment Management LLC now owns 12,270 shares of the company’s stock valued at $810,000 after acquiring an additional 1,304 shares during the period. State Street Corp lifted its holdings in shares of Carvana by 13.3% in the third quarter. State Street Corp now owns 611,873 shares of the company’s stock valued at $40,384,000 after purchasing an additional 71,714 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Carvana by 14.1% in the third quarter. California State Teachers Retirement System now owns 71,862 shares of the company’s stock valued at $4,743,000 after purchasing an additional 8,871 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Carvana by 13.5% in the third quarter. Public Employees Retirement System of Ohio now owns 15,238 shares of the company’s stock valued at $1,006,000 after purchasing an additional 1,807 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Carvana in the third quarter valued at approximately $5,829,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

In other news, major shareholder Spruce House Partnership Llc sold 1,000,000 shares of Carvana stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $29.41, for a total value of $29,410,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.25% of the stock is currently owned by insiders.

Shares of NYSE CVNA traded up $11.30 during mid-day trading on Wednesday, hitting $62.51. The company had a trading volume of 8,465,988 shares, compared to its average volume of 2,825,655. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of -21.78 and a beta of 1.90. Carvana Co has a 1 year low of $22.16 and a 1 year high of $115.23. The company has a current ratio of 1.57, a quick ratio of 0.69 and a debt-to-equity ratio of 5.21. The stock’s 50-day moving average price is $74.79 and its 200-day moving average price is $81.12.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.16). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Carvana had a negative net margin of 3.43% and a negative return on equity of 98.28%. As a group, equities research analysts forecast that Carvana Co will post -2.22 earnings per share for the current year.

A number of research analysts have recently weighed in on the company. Cfra lowered Carvana from a “sell” rating to a “strong sell” rating in a report on Friday, March 20th. ValuEngine upgraded Carvana from a “hold” rating to a “buy” rating in a report on Friday, March 13th. Benchmark assumed coverage on Carvana in a report on Thursday, January 9th. They issued a “hold” rating on the stock. JMP Securities raised their target price on Carvana from $92.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Finally, Robert W. Baird lifted their price target on Carvana from to and gave the stock an “outperform” rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $84.94.

Carvana 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 proprietary 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.

See Also: Gross Domestic Product (GDP)

Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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