Gordian Capital Singapore Pte Ltd Purchases New Position in Carvana Co. (NYSE:CVNA)

by · The Cerbat Gem

Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Carvana Co. (NYSE:CVNA – Free Report) during the fourth quarter, Holdings Channel reports. The fund purchased 480 shares of the company’s stock, valued at approximately $98,000.

Other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Carvana by 90.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 415,070 shares of the company’s stock worth $84,409,000 after purchasing an additional 196,776 shares during the period. USS Investment Management Ltd acquired a new stake in Carvana in the 4th quarter valued at approximately $5,065,000. Voloridge Investment Management LLC increased its position in Carvana by 52.7% in the 4th quarter. Voloridge Investment Management LLC now owns 479,976 shares of the company’s stock worth $97,608,000 after buying an additional 165,661 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of Carvana during the fourth quarter worth approximately $51,091,000. Finally, Whale Rock Capital Management LLC grew its stake in shares of Carvana by 29.8% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock worth $247,017,000 after acquiring an additional 278,760 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Insider Activity

In other Carvana news, insider Daniel J. Gill sold 70,166 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $281.43, for a total value of $19,746,817.38. Following the completion of the sale, the insider now owns 201,087 shares of the company’s stock, valued at approximately $56,591,914.41. This represents a 25.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. The trade was a 20.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,313 shares of company stock valued at $151,621,372 over the last 90 days. 17.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Evercore ISI reduced their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. Citigroup raised their price objective on Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Robert W. Baird upped their target price on Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company lifted their price target on shares of Carvana from $290.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $269.18.

View Our Latest Research Report on Carvana

Carvana Trading Down 3.3%

CVNA stock opened at $292.33 on Thursday. The business has a fifty day moving average price of $228.16 and a 200 day moving average price of $231.66. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a fifty-two week low of $97.55 and a fifty-two week high of $311.88. The stock has a market capitalization of $62.60 billion, a price-to-earnings ratio of 186.20 and a beta of 3.61.

Carvana (NYSE:CVNA – Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Carvana’s quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 earnings per share. Analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

About Carvana

(Free Report)

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.

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