FORA Capital LLC Purchases Shares of 8,743 Carvana Co. $CVNA

FORA Capital LLC acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,743 shares of the company’s stock, valued at approximately $2,946,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hilltop National Bank purchased a new position in Carvana in the 2nd quarter worth approximately $25,000. Brooklyn Investment Group lifted its holdings in shares of Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Carvana in the second quarter worth $38,000. Finally, LRI Investments LLC bought a new position in Carvana in the second quarter valued at $42,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CVNA shares. Wall Street Zen cut Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. UBS Group began coverage on Carvana in a research report on Monday, December 1st. They issued a “buy” rating and a $450.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Carvana in a research note on Friday, November 21st. They issued a “buy” rating and a $395.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Finally, Evercore ISI upped their price objective on shares of Carvana from $395.00 to $420.00 and gave the company an “in-line” rating in a research note on Tuesday. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Carvana has an average rating of “Moderate Buy” and an average target price of $438.76.

Carvana Stock Down 3.5%

Shares of Carvana stock opened at $455.95 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $485.33. The company’s 50 day moving average price is $353.83 and its 200-day moving average price is $351.18. The stock has a market capitalization of $99.19 billion, a price-to-earnings ratio of 104.10, a P/E/G ratio of 1.65 and a beta of 3.51.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period last year, the business earned $0.64 EPS. Carvana’s revenue was up 54.5% on a year-over-year basis. Equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other news, insider Daniel J. Gill sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the transaction, the insider directly owned 191,106 shares of the company’s stock, valued at approximately $90,821,215.44. The trade was a 17.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Benjamin E. Huston sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.00, for a total value of $9,500,000.00. Following the transaction, the chief operating officer owned 100,758 shares of the company’s stock, valued at approximately $47,860,050. This represents a 16.56% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 624,332 shares of company stock worth $251,466,542. Insiders own 17.12% of the company’s stock.

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.