Jacobs Levy Equity Management Inc. Acquires 5,980 Shares of Carvana Co. (NYSE:CVNA)

Jacobs Levy Equity Management Inc. grew its holdings in Carvana Co. (NYSE:CVNA) by 129.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,590 shares of the company’s stock after purchasing an additional 5,980 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Carvana were worth $2,154,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CVNA. Vanguard Group Inc. lifted its position in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after buying an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP increased its position in shares of Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock valued at $810,827,000 after acquiring an additional 57,215 shares during the last quarter. Durable Capital Partners LP raised its holdings in Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after acquiring an additional 129,246 shares in the last quarter. Geode Capital Management LLC boosted its position in Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock valued at $381,592,000 after purchasing an additional 75,250 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock valued at $207,086,000 after purchasing an additional 481,912 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVNA. JMP Securities dropped their price objective on Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 9th. DA Davidson upped their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. decreased their price objective on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Royal Bank of Canada boosted their price objective on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Finally, William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $269.18.

Carvana Price Performance

Shares of NYSE CVNA opened at $297.93 on Friday. The firm has a market cap of $63.51 billion, a P/E ratio of 189.76 and a beta of 3.61. The business’s 50 day moving average is $218.17 and its 200-day moving average is $229.55. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 1-year low of $97.55 and a 1-year high of $311.88.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the firm earned $0.23 earnings per share. The company’s revenue was up 38.3% on a year-over-year basis. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity

In related news, insider Daniel J. Gill sold 70,166 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the sale, the insider now owns 201,087 shares in the company, valued at approximately $56,591,914.41. This trade represents a 25.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Taira sold 27,593 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the transaction, the insider now owns 179,673 shares of the company’s stock, valued at approximately $40,431,815.19. This represents a 13.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 462,967 shares of company stock worth $106,728,267. Corporate insiders own 16.36% of the company’s stock.

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.