Donoghue Forlines LLC Takes Position in Carvana Co. (NYSE:CVNA)

Donoghue Forlines LLC acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,514 shares of the company’s stock, valued at approximately $1,731,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying an additional 5,882,656 shares during the period. State Street Corp grew its holdings in shares of Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock valued at $326,893,000 after purchasing an additional 107,610 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Carvana by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after purchasing an additional 131,059 shares during the period. Whale Rock Capital Management LLC bought a new stake in shares of Carvana in the 3rd quarter worth approximately $162,953,000. Finally, Driehaus Capital Management LLC boosted its position in Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares of the company’s stock, valued at $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the sale, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 396,197 shares of company stock valued at $92,162,653. Corporate insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of Carvana stock opened at $234.07 on Thursday. Carvana Co. has a 52 week low of $40.21 and a 52 week high of $268.34. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a market cap of $48.60 billion, a PE ratio of 23,323.32 and a beta of 3.38. The company’s 50-day moving average price is $230.97 and its two-hundred day moving average price is $188.85.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, sell-side analysts anticipate that Carvana Co. will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CVNA shares. Stephens reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research report on Thursday, January 2nd. Bank of America increased their price objective on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company decreased their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Jefferies Financial Group lifted their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird increased their price objective on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $241.94.

Carvana Company Profile

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.