Metis Global Partners LLC Takes Position in Carvana Co. (NYSE:CVNA)

Metis Global Partners LLC purchased a new position in Carvana Co. (NYSE:CVNA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,580 shares of the company’s stock, valued at approximately $321,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVNA. FMR LLC raised its position in Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Lingotto Investment Management LLP increased its stake in shares of Carvana by 1.5% during the 4th 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. State Street Corp raised its holdings in shares of Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after purchasing an additional 107,610 shares during the period. Geode Capital Management LLC lifted its stake in Carvana by 7.8% in the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock valued at $315,133,000 after purchasing an additional 131,059 shares during the last quarter. Finally, Whale Rock Capital Management LLC bought a new position in Carvana during the third quarter valued at $162,953,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated 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 directly owns 189,097 shares in the company, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira J. Platt sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total value of $6,107,500.00. Following the transaction, the director now directly owns 5,227 shares in the company, valued at approximately $1,276,956.10. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,629 shares of company stock worth $30,866,419. Corporate insiders own 17.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CVNA. Needham & Company LLC boosted their target price on Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. DA Davidson boosted their price objective on Carvana from $220.00 to $260.00 and gave the company 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 note on Monday. Evercore ISI upped their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Finally, Citigroup lifted their price objective on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.06.

Carvana Stock Performance

Shares of CVNA opened at $216.25 on Thursday. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. 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 cap of $46.10 billion, a PE ratio of 137.74 and a beta of 3.56. The stock has a 50-day moving average price of $232.84 and a 200-day moving average price of $212.80.

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