Carvana Co. (NYSE:CVNA) Stake Lifted by Lingotto Investment Management LLP

Lingotto Investment Management LLP boosted its position in shares of Carvana Co. (NYSE:CVNA) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,776,747 shares of the company’s stock after purchasing an additional 52,833 shares during the quarter. Carvana comprises about 16.3% of Lingotto Investment Management LLP’s portfolio, making the stock its biggest position. Lingotto Investment Management LLP owned 1.86% of Carvana worth $486,143,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of Carvana in the 2nd quarter worth $32,000. Parallel Advisors LLC grew its stake in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares during the last quarter. Summit Securities Group LLC grew its stake in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares during the last quarter. Fifth Third Bancorp grew its stake in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares during the last quarter. Finally, Tidemark LLC purchased a new position in Carvana during the 4th quarter worth $50,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Stephens assumed coverage on Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price on the stock. Robert W. Baird assumed coverage on Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target on the stock. DA Davidson boosted their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Evercore ISI boosted their price target on Carvana from $142.00 to $157.00 and gave the company an “in-line” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $153.88.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $108.86, for a total transaction of $6,531,600.00. Following the completion of the transaction, the insider now owns 1,057,500 shares of the company’s stock, valued at $115,119,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $108.86, for a total value of $6,531,600.00. Following the completion of the sale, the insider now directly owns 1,057,500 shares in the company, valued at $115,119,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $155.94, for a total value of $15,594,000.00. Following the completion of the sale, the insider now owns 90,814 shares of the company’s stock, valued at $14,161,535.16. The disclosure for this sale can be found here. Insiders sold 2,481,866 shares of company stock valued at $338,115,484 over the last quarter. 17.12% of the stock is currently owned by insiders.

Carvana Stock Performance

NYSE CVNA opened at $156.57 on Wednesday. The stock has a market capitalization of $31.72 billion, a price-to-earnings ratio of 68.67 and a beta of 3.43. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $159.85. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The stock has a 50-day moving average of $140.31 and a 200 day moving average of $113.19.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. Sell-side analysts anticipate that Carvana Co. will post 0.18 EPS for the current fiscal year.

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 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.