Taika Capital LP Takes $2.67 Million Position in Carvana Co. (NYSE:CVNA)

Taika Capital LP purchased a new position in Carvana Co. (NYSE:CVNA) during the fourth quarter, Holdings Channel.com reports. The fund purchased 13,119 shares of the company’s stock, valued at approximately $2,668,000. Carvana accounts for 2.0% of Taika Capital LP’s portfolio, making the stock its 20th largest position.

Several other institutional investors have also bought and sold shares of CVNA. Quent Capital LLC bought a new position in Carvana during the fourth quarter worth about $28,000. Global Retirement Partners LLC lifted its stake in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Carvana in the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new position in Carvana in the 4th quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP bought a new stake in Carvana during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the transaction, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,629 shares of company stock worth $30,866,419. 17.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CVNA has been the subject of a number of analyst reports. Stephens reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Wells Fargo & Company cut their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. upped their price target on Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada increased their price target on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Bank of America boosted their price objective on shares of Carvana from $252.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.94.

Carvana Stock Up 0.7 %

Shares of CVNA opened at $188.19 on Monday. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a 50 day simple moving average of $231.41 and a two-hundred day simple moving average of $213.67. The firm has a market cap of $40.11 billion, a P/E ratio of 119.86 and a beta of 3.56.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. On average, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal 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.