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

Waycross Partners LLC bought 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 & Exchange Commission. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $529,000.

A number of other hedge funds have also recently modified their holdings of CVNA. Blue Trust Inc. bought a new position in Carvana in the fourth quarter worth approximately $29,000. Hanseatic Management Services Inc. bought a new position in Carvana in the third quarter worth approximately $34,000. Harvest Fund Management Co. Ltd grew its stake in Carvana by 1,225.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock worth $50,000 after purchasing an additional 1,103 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Carvana by 1,370.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,470 shares of the company’s stock worth $62,000 after purchasing an additional 1,370 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Carvana in the third quarter worth approximately $64,000. Institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In other Carvana news, insider Paul W. Breaux sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $89.00, for a total value of $1,780,000.00. Following the transaction, the insider now directly owns 115,032 shares of the company’s stock, valued at approximately $10,237,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $86.75, for a total transaction of $433,750.00. Following the sale, the vice president now owns 62,514 shares of the company’s stock, valued at approximately $5,423,089.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul W. Breaux sold 20,000 shares of Carvana stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the sale, the insider now directly owns 115,032 shares in the company, valued at approximately $10,237,848. The disclosure for this sale can be found here. Insiders have sold 287,883 shares of company stock valued at $23,778,678 in the last ninety days. 17.18% of the stock is currently owned by corporate insiders.

Carvana Stock Down 1.0 %

Shares of NYSE:CVNA traded down $0.81 during trading on Tuesday, reaching $82.95. 3,915,287 shares of the company’s stock traded hands, compared to its average volume of 5,980,688. The firm has a market cap of $16.75 billion, a PE ratio of 153.56 and a beta of 3.32. Carvana Co. has a fifty-two week low of $6.70 and a fifty-two week high of $94.04. The company has a 50-day simple moving average of $78.09 and a 200-day simple moving average of $54.27.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.97) earnings per share. On average, equities research analysts forecast that Carvana Co. will post -3.32 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. TD Cowen upped their target price on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a report on Monday. Robert W. Baird increased their price objective on Carvana from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Evercore ISI decreased their price objective on Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Finally, Royal Bank of Canada upgraded Carvana from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $45.00 to $90.00 in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.75.

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.