Blueshift Asset Management LLC Makes New Investment in Carvana Co. (NYSE:CVNA)

Blueshift Asset Management LLC acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,562 shares of the company’s stock, valued at approximately $724,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Carvana in the 3rd quarter valued at about $439,000. CIBC Asset Management Inc boosted its stake in shares of Carvana by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after purchasing an additional 115 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Carvana in the 3rd quarter valued at about $494,000. Natixis Advisors LLC boosted its stake in shares of Carvana by 2.6% in the 3rd quarter. Natixis Advisors LLC now owns 80,885 shares of the company’s stock valued at $14,083,000 after purchasing an additional 2,054 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Carvana by 6.9% in the 3rd quarter. Swiss National Bank now owns 207,900 shares of the company’s stock valued at $36,197,000 after purchasing an additional 13,400 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

NYSE CVNA opened at $176.34 on Thursday. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a market capitalization of $37.59 billion, a PE ratio of 112.32 and a beta of 3.56. The firm’s 50 day moving average is $227.84 and its 200-day moving average is $214.38.

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

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now directly owns 153,240 shares of the company’s stock, valued at $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 three months, insiders sold 119,784 shares of company stock valued at $27,524,344. 17.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVNA. Evercore ISI reduced their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. Stephens reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Royal Bank of Canada increased their price target on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Citigroup increased their price target on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.71.

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.