Renaissance Technologies LLC Grows Stake in Carvana Co. (NYSE:CVNA)

Renaissance Technologies LLC grew its position in Carvana Co. (NYSE:CVNA) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 813,400 shares of the company’s stock after purchasing an additional 88,500 shares during the quarter. Renaissance Technologies LLC owned about 0.40% of Carvana worth $104,701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of Carvana by 38.6% during the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock worth $2,318,000 after buying an additional 12,193 shares during the period. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV lifted its stake in shares of Carvana by 17.6% during the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock worth $26,470,000 after buying an additional 75,000 shares during the period. Tidal Investments LLC acquired a new stake in shares of Carvana during the first quarter worth $1,783,000. Finally, US Bancorp DE lifted its stake in shares of Carvana by 724.5% during the first quarter. US Bancorp DE now owns 5,549 shares of the company’s stock worth $488,000 after buying an additional 4,876 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $135.73, for a total transaction of $10,179,750.00. Following the completion of the sale, the insider now owns 40,583,131 shares of the company’s stock, valued at $5,508,348,370.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $135.73, for a total transaction of $10,179,750.00. Following the completion of the sale, the insider now owns 40,583,131 shares of the company’s stock, valued at $5,508,348,370.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $155.94, for a total transaction of $15,594,000.00. Following the sale, the insider now directly owns 90,814 shares of the company’s stock, valued at approximately $14,161,535.16. The disclosure for this sale can be found here. Insiders sold 2,481,866 shares of company stock valued at $338,115,484 over the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CVNA shares. Piper Sandler lifted their price objective on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Stephens started coverage on shares of Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective for the company. Robert W. Baird started coverage on shares of Carvana in a research report on Thursday, August 1st. They set a “neutral” rating and a $160.00 target price for the company. DA Davidson boosted their target price on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, JMP Securities restated a “market outperform” rating and set a $200.00 target price on shares of Carvana in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Carvana currently has an average rating of “Hold” and an average price target of $151.94.

Carvana Trading Up 7.6 %

Shares of Carvana stock opened at $152.70 on Tuesday. The firm has a 50-day simple moving average of $140.31 and a two-hundred day simple moving average of $113.19. The company has a market cap of $31.60 billion, a P/E ratio of 66.97 and a beta of 3.43. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $159.85. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. As a group, equities analysts predict that Carvana Co. will post 0.18 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.