Lingotto Investment Management LLP Has $810.83 Million Stock Holdings in Carvana Co. (NYSE:CVNA)

Lingotto Investment Management LLP increased its stake in shares of Carvana Co. (NYSE:CVNA) by 1.5% during the 4th quarter, Holdings Channel reports. The fund owned 3,987,150 shares of the company’s stock after acquiring an additional 57,215 shares during the period. Carvana comprises approximately 21.8% of Lingotto Investment Management LLP’s investment portfolio, making the stock its largest position. Lingotto Investment Management LLP’s holdings in Carvana were worth $810,827,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Raymond James & Associates grew its stake in shares of Carvana by 28.8% in the 3rd quarter. Raymond James & Associates now owns 13,577 shares of the company’s stock valued at $2,364,000 after buying an additional 3,033 shares during the period. Ballentine Partners LLC bought a new stake in Carvana during the 3rd quarter valued at $246,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Carvana by 64.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,931 shares of the company’s stock worth $2,875,000 after buying an additional 6,665 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Carvana during the third quarter valued at about $377,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Carvana during the third quarter worth about $303,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,629 shares of company stock valued at $44,833,799. Corporate insiders own 17.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVNA shares. JPMorgan Chase & Co. raised their price target on shares of Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada lifted their target price on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Bank of America increased their price target on Carvana from $252.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company cut their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.06.

Carvana Trading Up 2.5 %

Shares of Carvana stock opened at $221.08 on Wednesday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock has a market capitalization of $45.90 billion, a P/E ratio of 140.81 and a beta of 3.37. Carvana Co. has a 52-week low of $66.97 and a 52-week high of $292.84. The stock’s 50-day simple moving average is $232.90 and its 200 day simple moving average is $210.02.

Carvana (NYSE:CVNA) last issued 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. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. As a group, research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Carvana Company 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.