Smith Group Asset Management LLC Buys Shares of 2,810 Carvana Co. (NYSE:CVNA)

Smith Group Asset Management LLC purchased a new stake in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,810 shares of the company’s stock, valued at approximately $571,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CVNA. FMR LLC lifted its holdings in Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. State Street Corp boosted its position in shares of Carvana by 6.1% in the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock valued at $326,893,000 after acquiring an additional 107,610 shares during the period. Geode Capital Management LLC grew its stake in Carvana by 7.8% during the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock valued at $315,133,000 after acquiring an additional 131,059 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in Carvana during the 3rd quarter worth approximately $162,953,000. Finally, Holocene Advisors LP lifted its stake in Carvana by 108.2% in the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock worth $96,476,000 after purchasing an additional 287,983 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This represents a 5.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares in the company, valued at $52,484,640. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 380,383 shares of company stock worth $88,981,508 in the last ninety days. 17.12% of the stock is owned by insiders.

Carvana Price Performance

Shares of NYSE:CVNA opened at $244.88 on Wednesday. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $50.84 billion, a PE ratio of 24,512.21 and a beta of 3.38. The company’s fifty day moving average is $230.87 and its 200 day moving average is $192.47. Carvana Co. has a 52 week low of $40.21 and a 52 week high of $268.34.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. Research analysts anticipate that Carvana Co. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVNA. Citigroup upgraded shares of Carvana from a “neutral” rating to a “buy” rating and boosted their price target for the company from $195.00 to $277.00 in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Bank of America raised their price target on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Stephens reissued an “overweight” rating and set a $300.00 price objective on shares of Carvana in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.94.

Carvana 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.