Styrax Capital LP Has $94.31 Million Stake in Carvana Co. $CVNA

Styrax Capital LP raised its stake in shares of Carvana Co. (NYSE:CVNA) by 33.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 300,000 shares of the company’s stock after purchasing an additional 74,728 shares during the period. Carvana accounts for about 6.6% of Styrax Capital LP’s investment portfolio, making the stock its 7th biggest holding. Styrax Capital LP’s holdings in Carvana were worth $94,314,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD grew its position in Carvana by 8.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after purchasing an additional 1,407,762 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after acquiring an additional 3,328,115 shares during the period. State Street Corp increased its holdings in Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after acquiring an additional 2,764,759 shares in the last quarter. Capital Research Global Investors boosted its stake in Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after buying an additional 1,711,144 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after acquiring an additional 1,382,852 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CVNA shares. Gordon Haskett upped their price objective on Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. UBS Group reiterated a “buy” rating and issued a $104.00 target price (up from $97.00) on shares of Carvana in a research note on Thursday, April 30th. Citizens Jmp increased their price target on shares of Carvana from $92.00 to $103.00 and gave the company a “market outperform” rating in a research report on Friday, May 1st. Citigroup reissued an “outperform” rating on shares of Carvana in a research report on Friday, May 1st. Finally, Bank of America raised their price target on shares of Carvana from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.65.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 63,750 shares of Carvana stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $77.44, for a total transaction of $4,936,672.50. Following the completion of the sale, the chief financial officer owned 1,050,635 shares of the company’s stock, valued at $81,359,073.13. The trade was a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Taira sold 5,597 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $67.15, for a total value of $375,838.55. Following the completion of the sale, the insider owned 315,075 shares in the company, valued at approximately $21,157,286.25. This represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 396,962 shares of company stock valued at $28,525,088. 15.19% of the stock is owned by company insiders.

Carvana Price Performance

NYSE CVNA opened at $60.43 on Monday. The company has a market cap of $66.28 billion, a price-to-earnings ratio of 36.76, a PEG ratio of 13.57 and a beta of 3.46. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The stock’s fifty day moving average price is $66.99 and its 200 day moving average price is $71.53. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. As a group, equities research analysts forecast that Carvana Co. will post 1.63 earnings per share for the current year.

Carvana Profile

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.