BW Gestao de Investimentos Ltda. Raises Position in Carvana Co. $CVNA

BW Gestao de Investimentos Ltda. lifted its stake in shares of Carvana Co. (NYSE:CVNA) by 110.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,000 shares of the company’s stock after buying an additional 4,200 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in Carvana were worth $3,018,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in shares of Carvana by 124.9% in the third quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock valued at $100,316,000 after purchasing an additional 147,683 shares during the period. Hudson Bay Capital Management LP grew its holdings in Carvana by 158.0% during the 2nd quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after purchasing an additional 10,090 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Carvana by 11.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock valued at $240,476,000 after purchasing an additional 64,424 shares in the last quarter. Strs Ohio increased its stake in Carvana by 89.9% during the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock worth $14,243,000 after buying an additional 17,878 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Carvana by 14.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock worth $76,662,000 after buying an additional 24,129 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $393.04, for a total value of $393,040.00. Following the transaction, the vice president owned 37,192 shares of the company’s stock, valued at $14,617,943.68. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J Danforth Quayle sold 2,900 shares of Carvana stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $309.97, for a total value of $898,913.00. Following the completion of the transaction, the director owned 41,913 shares of the company’s stock, valued at approximately $12,991,772.61. The trade was a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 132,621 shares of company stock valued at $59,163,610 over the last quarter. Corporate insiders own 16.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVNA. Wells Fargo & Company decreased their price objective on shares of Carvana from $525.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. UBS Group set a $485.00 target price on Carvana in a research report on Friday, February 20th. DA Davidson cut their price target on Carvana from $470.00 to $320.00 and set a “neutral” rating on the stock in a research note on Thursday, February 19th. Citigroup reduced their price target on Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Finally, Barclays dropped their price objective on Carvana from $530.00 to $450.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $440.59.

Carvana Stock Up 3.5%

CVNA stock opened at $328.74 on Tuesday. The firm has a market cap of $71.94 billion, a price-to-earnings ratio of 40.89 and a beta of 3.60. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $486.89. The firm has a fifty day moving average price of $397.33 and a two-hundred day moving average price of $380.49. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same period last year, the firm posted $0.56 EPS. The company’s revenue for the quarter was up 58.0% on a year-over-year basis. Research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.