Voloridge Investment Management LLC Grows Position in Carvana Co. (NYSE:CVNA)

Voloridge Investment Management LLC raised its position in Carvana Co. (NYSE:CVNA) by 52.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479,976 shares of the company’s stock after purchasing an additional 165,661 shares during the quarter. Voloridge Investment Management LLC owned 0.23% of Carvana worth $97,608,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVNA. Atomi Financial Group Inc. raised its holdings in shares of Carvana by 9.1% in the 4th quarter. Atomi Financial Group Inc. now owns 1,805 shares of the company’s stock worth $367,000 after purchasing an additional 151 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Carvana by 0.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock worth $5,657,000 after purchasing an additional 86 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Carvana by 1,471.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the company’s stock worth $67,000 after purchasing an additional 309 shares during the period. Donoghue Forlines LLC purchased a new position in shares of Carvana in the 4th quarter worth about $1,731,000. Finally, Fifth Third Bancorp raised its holdings in shares of Carvana by 37.6% in the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock worth $65,000 after purchasing an additional 88 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research reports. DA Davidson raised their price objective on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Bank of America increased their target price on Carvana from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Evercore ISI lowered their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. 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 research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered their target price on Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Six investment 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 an average target price of $269.18.

Insider Transactions at Carvana

In other news, insider Thomas Taira sold 27,593 shares of Carvana 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 in the company, valued at approximately $40,431,815.19. This trade represents a 13.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $150.90, for a total value of $7,545,000.00. Following the completion of the transaction, the chief operating officer now owns 123,803 shares of the company’s stock, valued at approximately $18,681,872.70. The trade was a 28.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 590,313 shares of company stock worth $145,613,672. 17.12% of the stock is currently owned by corporate insiders.

Carvana Price Performance

Shares of NYSE CVNA opened at $304.92 on Tuesday. Carvana Co. has a fifty-two week low of $97.55 and a fifty-two week high of $311.88. The business has a 50 day moving average price of $223.22 and a two-hundred day moving average price of $230.75. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a market cap of $65.30 billion, a PE ratio of 194.22 and a beta of 3.61.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. The firm 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%. Carvana’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. Sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal 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.