Fox Run Management L.L.C. Purchases New Position in Carvana Co. (NYSE:CVNA)

Fox Run Management L.L.C. purchased a new stake in Carvana Co. (NYSE:CVNA) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,925 shares of the company’s stock, valued at approximately $391,000.

Other hedge funds also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in Carvana during the 4th quarter worth approximately $7,728,000. Sei Investments Co. grew its holdings in shares of Carvana by 83.9% during the fourth quarter. Sei Investments Co. now owns 25,918 shares of the company’s stock worth $5,270,000 after purchasing an additional 11,826 shares during the last quarter. Virtu Financial LLC increased its stake in shares of Carvana by 98.9% in the fourth quarter. Virtu Financial LLC now owns 22,735 shares of the company’s stock valued at $4,623,000 after buying an additional 11,305 shares in the last quarter. Quantbot Technologies LP raised its holdings 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. Finally, Semanteon Capital Management LP acquired a new position in Carvana during the 4th quarter worth about $909,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Down 7.5 %

Shares of NYSE CVNA opened at $205.12 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 twelve month low of $67.61 and a twelve month high of $292.84. The company’s fifty day moving average is $228.32 and its 200-day moving average is $216.50. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 130.65 and a beta of 3.56.

Carvana (NYSE:CVNA) last posted its earnings results 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. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Equities research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, insider Thomas Taira sold 27,593 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the completion of the transaction, the insider now directly owns 179,673 shares in the company, valued at approximately $40,431,815.19. This trade represents a 13.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.35, for a total value of $10,517,500.00. Following the completion of the sale, the chief operating officer now owns 146,278 shares in the company, valued at $30,769,577.30. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 197,377 shares of company stock valued at $44,251,096. 17.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on CVNA shares. Royal Bank of Canada boosted their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Piper Sandler upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective for the company in a research report on Thursday, March 20th. Evercore ISI decreased their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Wedbush set a $250.00 target price on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Stephens reiterated an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $263.88.

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.