Campbell & CO Investment Adviser LLC Makes New $409,000 Investment in Carvana Co. (NYSE:CVNA)

Campbell & CO Investment Adviser LLC bought a new stake in Carvana Co. (NYSE:CVNAFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,720 shares of the company’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley raised its holdings in shares of Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after purchasing an additional 1,784,009 shares during the period. Vanguard Group Inc. increased its stake in Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after buying an additional 62,820 shares during the period. FMR LLC increased its stake 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 buying an additional 24,560 shares during the period. Steadview Capital Management LLC boosted its position in shares of Carvana by 15.6% during the 4th quarter. Steadview Capital Management LLC now owns 876,905 shares of the company’s stock valued at $46,423,000 after purchasing an additional 118,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Carvana by 6.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock valued at $44,040,000 after purchasing an additional 53,318 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVNA has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Morgan Stanley raised their target price on shares of Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. Evercore ISI decreased their target price on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. JMP Securities increased their price target on shares of Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Friday. Finally, TD Cowen increased their price target on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $84.36.

Check Out Our Latest Research Report on Carvana

Carvana Stock Performance

Shares of CVNA opened at $107.92 on Tuesday. The firm has a market cap of $21.86 billion, a PE ratio of 47.33 and a beta of 3.29. The firm’s 50 day moving average price is $96.75 and its 200 day moving average price is $70.39. Carvana Co. has a twelve month low of $18.46 and a twelve month high of $129.00.

Carvana (NYSE:CVNAGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. On average, sell-side analysts anticipate that Carvana Co. will post -0.8 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, CEO Ernest C. Garcia III sold 9,390 shares of Carvana stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total value of $777,773.70. Following the transaction, the chief executive officer now owns 861,458 shares of the company’s stock, valued at $71,354,566.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Ernest C. Garcia III sold 18,100 shares of Carvana stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $116.24, for a total value of $2,103,944.00. Following the transaction, the chief executive officer now owns 896,449 shares of the company’s stock, valued at $104,203,231.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ernest C. Garcia III sold 9,390 shares of Carvana stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total transaction of $777,773.70. Following the completion of the transaction, the chief executive officer now directly owns 861,458 shares in the company, valued at approximately $71,354,566.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,258,273 shares of company stock valued at $133,148,690. 17.18% of the stock is currently owned by corporate 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.

See Also

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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