Carvana Co. (NYSE:CVNA) is Durable Capital Partners LP’s 10th Largest Position

Durable Capital Partners LP increased its position in shares of Carvana Co. (NYSE:CVNA) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,168,232 shares of the company’s stock after buying an additional 129,246 shares during the quarter. Carvana comprises approximately 3.6% of Durable Capital Partners LP’s portfolio, making the stock its 10th largest position. Durable Capital Partners LP’s holdings in Carvana were worth $440,932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVNA. Norges Bank purchased a new stake in Carvana in the 4th quarter valued at about $179,364,000. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 610,234 shares during the period. Castle Hook Partners LP acquired a new stake in Carvana in the 4th quarter valued at approximately $116,020,000. BNP Paribas Financial Markets raised its position 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 during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Carvana during the fourth quarter worth $86,636,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JMP Securities lowered their target price on Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a report on Wednesday, April 9th. Royal Bank of Canada increased their price target on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Citigroup cut their price target on Carvana from $320.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. DA Davidson upped their target price on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Stephens reaffirmed an “overweight” rating and set 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.76.

Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % 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 link. Also, insider Thomas Taira sold 27,593 shares of the company’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 348,560 shares of company stock worth $73,806,520. 17.12% of the stock is currently owned by company insiders.

Carvana Stock Performance

NYSE CVNA opened at $259.19 on Wednesday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $55.25 billion, a PE ratio of 165.09 and a beta of 3.61. The business’s 50-day moving average price is $207.06 and its 200 day moving average price is $225.64. Carvana Co. has a twelve month low of $97.55 and a twelve month high of $292.84.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

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.