Carvana Co. $CVNA is Styrax Capital LP’s 7th Largest Position

Styrax Capital LP grew its stake in Carvana Co. (NYSE:CVNA) by 33.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 300,000 shares of the company’s stock after purchasing an additional 74,728 shares during the period. Carvana comprises 6.6% of Styrax Capital LP’s investment portfolio, making the stock its 7th biggest position. Styrax Capital LP’s holdings in Carvana were worth $94,314,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. OMERS ADMINISTRATION Corp raised its position in Carvana by 16.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 11,244 shares of the company’s stock valued at $3,535,000 after acquiring an additional 1,621 shares in the last quarter. Lombard Odier Asset Management Switzerland SA acquired a new position in Carvana in the first quarter valued at approximately $1,165,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Carvana by 58.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,881 shares of the company’s stock worth $2,792,000 after purchasing an additional 3,291 shares in the last quarter. Gavilan Investment Partners LLC boosted its position in Carvana by 7.0% in the 1st quarter. Gavilan Investment Partners LLC now owns 92,000 shares of the company’s stock worth $28,923,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Inceptionr LLC acquired a new stake in shares of Carvana during the 1st quarter worth approximately $554,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Down 0.0%

CVNA stock opened at $60.43 on Monday. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38. The stock 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 business’s 50-day moving average is $66.99 and its 200 day moving average is $71.53.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $0.32 by $1.37. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. On average, sell-side analysts anticipate that Carvana Co. will post 1.63 EPS for the current fiscal year.

Insider Activity

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Robert W. Baird set a $88.00 target price on shares of Carvana in a report on Friday, May 15th. Argus lowered their price target on shares of Carvana from $500.00 to $100.00 in a report on Monday, May 11th. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. BNP Paribas Exane lifted their price objective on shares of Carvana from $77.60 to $85.80 in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Carvana in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $92.65.

Carvana Company 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.