24,161 Shares in Carvana Co. $CVNA Bought by OP Asset Management Ltd

OP Asset Management Ltd bought a new stake in shares of Carvana Co. (NYSE:CVNA) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,161 shares of the company’s stock, valued at approximately $7,596,000.

Other hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise boosted its holdings in shares of Carvana by 77.1% during the 1st quarter. Banque Cantonale Vaudoise now owns 441 shares of the company’s stock valued at $139,000 after purchasing an additional 192 shares during the last quarter. E. Ohman J or Asset Management AB lifted its position in shares of Carvana by 2.4% in the first quarter. E. Ohman J or Asset Management AB now owns 4,200 shares of the company’s stock worth $1,320,000 after buying an additional 100 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Carvana by 239.6% during the fourth quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock valued at $93,748,000 after buying an additional 156,430 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Carvana by 26.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,588 shares of the company’s stock valued at $1,092,000 after buying an additional 534 shares during the last quarter. Finally, World Investment Advisors grew its holdings in Carvana by 14.8% during the 4th quarter. World Investment Advisors now owns 793 shares of the company’s stock valued at $335,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In other news, Director J Danforth Quayle sold 14,525 shares of Carvana stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the completion of the sale, the director owned 214,960 shares of the company’s stock, valued at approximately $15,047,200. The trade was a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction on Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the sale, the director directly owned 186,470 shares of the company’s stock, valued at approximately $12,648,260.10. This trade represents a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 415,812 shares of company stock valued at $29,056,896. 15.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVNA. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Friday, March 13th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price on shares of Carvana in a research report on Friday, June 5th. Jefferies Financial Group cut their target price on shares of Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. BTIG Research restated a “buy” rating and issued a $97.00 price target on shares of Carvana in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.14.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $66.22 on Friday. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average is $71.45 and its 200 day moving average is $74.78. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a market capitalization of $72.63 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 11.46 and a beta of 3.45.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.12 billion. Research analysts predict that Carvana Co. will post 1.58 EPS for the current year.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.