Versor Investments LP Takes $4.65 Million Position in Carvana Co. (NYSE:CVNA)

Versor Investments LP bought a new position in Carvana Co. (NYSE:CVNA) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 22,848 shares of the company’s stock, valued at approximately $4,646,000. Carvana makes up approximately 0.8% of Versor Investments LP’s investment portfolio, making the stock its 12th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of CVNA. Proficio Capital Partners LLC bought a new position in shares of Carvana in the fourth quarter worth $23,655,000. Oppenheimer & Co. Inc. increased its stake in Carvana by 19.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,289 shares of the company’s stock worth $465,000 after acquiring an additional 374 shares during the last quarter. Gulf International Bank UK Ltd bought a new position in Carvana in the 4th quarter worth about $1,438,000. Lingotto Investment Management LLP increased its position in shares of Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after purchasing an additional 57,215 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Carvana by 28.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 11,815 shares of the company’s stock valued at $2,403,000 after purchasing an additional 2,600 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CVNA. Robert W. Baird boosted their price target on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research report on Thursday, February 6th. Piper Sandler raised their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company dropped their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $265.06.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the transaction, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock worth $44,833,799 over the last quarter. 17.18% of the stock is owned by corporate insiders.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $232.08 on Thursday. 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 50-day moving average price of $232.88 and a 200-day moving average price of $210.17. The company has a market cap of $48.19 billion, a price-to-earnings ratio of 147.82 and a beta of 3.37. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating 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 analyst estimates of $3.32 billion. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS 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.