True North Advisors LLC Invests $238,000 in Carvana Co. (NYSE:CVNA)

True North Advisors LLC acquired a new position in shares of Carvana Co. (NYSE:CVNAFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,494 shares of the company’s stock, valued at approximately $238,000.

Other institutional investors have also recently modified their holdings of the company. Morgan Stanley boosted its stake in shares of Carvana by 13.8% during the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after buying an additional 1,784,009 shares during the last quarter. Spruce House Investment Management LLC boosted its stake in Carvana by 52.7% in the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after acquiring an additional 3,450,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Carvana by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after purchasing an additional 62,820 shares during the last quarter. FMR LLC boosted its position in Carvana by 0.5% during the 3rd quarter. FMR LLC now owns 4,696,510 shares of the company’s stock valued at $197,160,000 after purchasing an additional 24,560 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Carvana during the 4th quarter worth $14,102,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

Shares of CVNA stock opened at $88.10 on Monday. The stock has a fifty day simple moving average of $65.41 and a two-hundred day simple moving average of $48.90. Carvana Co. has a 52-week low of $6.70 and a 52-week high of $94.04. The firm has a market capitalization of $17.79 billion, a PE ratio of 162.80 and a beta of 3.32.

Carvana (NYSE:CVNAGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. Carvana’s revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.97) earnings per share. On average, sell-side analysts forecast that Carvana Co. will post -3.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley raised their target price on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, February 26th. Wedbush increased their price objective on Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Evercore ISI boosted their price objective on shares of Carvana from $68.00 to $75.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. William Blair raised shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Finally, JMP Securities upped their target price on shares of Carvana from $60.00 to $80.00 and gave the company a “market outperform” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $50.40.

View Our Latest Stock Report on Carvana

Insiders Place Their Bets

In other Carvana news, VP Stephen R. Palmer sold 4,515 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $49.57, for a total value of $223,808.55. Following the completion of the sale, the vice president now owns 69,108 shares of the company’s stock, valued at $3,425,683.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Stephen R. Palmer sold 4,515 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $49.57, for a total transaction of $223,808.55. Following the completion of the sale, the vice president now directly owns 69,108 shares of the company’s stock, valued at $3,425,683.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the sale, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The disclosure for this sale can be found here. Insiders sold 59,515 shares of company stock valued at $4,620,659 over the last three months. 17.12% of the stock is owned by company insiders.

About Carvana

(Free Report)

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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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