Virtu Financial LLC Grows Stock Position in Carvana Co. (NYSE:CVNA)

Virtu Financial LLC increased its position in shares of Carvana Co. (NYSE:CVNA) by 98.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,735 shares of the company’s stock after purchasing an additional 11,305 shares during the quarter. Virtu Financial LLC’s holdings in Carvana were worth $4,623,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP raised its position in shares of Carvana by 93.7% in the fourth quarter. Quantbot Technologies LP now owns 92,204 shares of the company’s stock valued at $18,751,000 after buying an additional 44,594 shares during the last quarter. Semanteon Capital Management LP purchased a new stake in Carvana during the 4th quarter valued at about $909,000. Blueshift Asset Management LLC acquired a new stake in Carvana in the 4th quarter valued at about $724,000. Harvest Fund Management Co. Ltd lifted its stake in Carvana by 57.4% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,343 shares of the company’s stock worth $476,000 after purchasing an additional 854 shares in the last quarter. Finally, Vinva Investment Management Ltd acquired a new position in shares of Carvana during the 4th quarter worth approximately $919,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVNA has been the subject of a number of recent research reports. Evercore ISI cut their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Citigroup boosted their target price on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday, February 21st. Robert W. Baird raised their price target on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $262.71.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares in the company, valued at approximately $55,016,895.44. The trade was a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. This trade represents a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 119,784 shares of company stock valued at $27,524,344. Insiders own 17.12% of the company’s stock.

Carvana Trading Up 3.2 %

CVNA opened at $191.38 on Friday. 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 market capitalization of $40.80 billion, a price-to-earnings ratio of 121.90 and a beta of 3.56. The business has a fifty day moving average price of $227.57 and a 200 day moving average price of $214.47. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share 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 firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Sell-side analysts expect 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.