205,090 Shares in Carvana Co. (NYSE:CVNA) Acquired by Twinbeech Capital LP

Twinbeech Capital LP acquired a new position in Carvana Co. (NYSE:CVNA) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 205,090 shares of the company’s stock, valued at approximately $41,707,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Carvana by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock worth $94,148,000 after purchasing an additional 39,089 shares during the period. Plato Investment Management Ltd lifted its position in Carvana by 135.5% in the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock worth $1,062,000 after purchasing an additional 2,994 shares during the period. Bank of New York Mellon Corp lifted its position in Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock worth $97,305,000 after purchasing an additional 130,942 shares during the period. Calamos Advisors LLC acquired a new stake in Carvana in the fourth quarter worth approximately $1,106,000. Finally, Raymond James Financial Inc. acquired a new stake in Carvana in the fourth quarter worth approximately $60,866,000. 56.71% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Thomas Taira sold 27,593 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the sale, the insider now owns 179,673 shares in the company, valued at $40,431,815.19. This represents a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Benjamin E. Huston sold 26,753 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $300.00, for a total transaction of $8,025,900.00. Following the completion of the transaction, the chief operating officer now directly owns 149,294 shares in the company, valued at $44,788,200. This trade represents a 15.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 618,735 shares of company stock worth $153,823,367 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

Carvana Price Performance

CVNA opened at $299.68 on Monday. The stock has a fifty day moving average of $220.71 and a 200-day moving average of $230.22. The firm has a market capitalization of $64.17 billion, a P/E ratio of 190.88 and a beta of 3.61. Carvana Co. has a 12-month low of $97.55 and a 12-month high of $311.88. 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 (NYSE:CVNA) last released its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. Equities analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler upped their target price on Carvana from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 22nd. Stephens restated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research report on Monday, March 3rd. Needham & Company LLC restated a “buy” rating and issued a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Citigroup increased their price objective on Carvana from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley increased their price objective on Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus target price of $269.18.

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.