Carvana Co. (NYSE:CVNA) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Carvana Co. (NYSE:CVNA) by 33.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 382,607 shares of the company’s stock after acquiring an additional 95,497 shares during the period. Assenagon Asset Management S.A.’s holdings in Carvana were worth $77,807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVNA. ORG Wealth Partners LLC purchased a new position in Carvana in the 4th quarter valued at about $34,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana in the third quarter valued at approximately $32,000. Versant Capital Management Inc purchased a new position in shares of Carvana during the fourth quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new position in shares of Carvana during the third quarter valued at approximately $40,000. Finally, First Horizon Advisors Inc. boosted its position in Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after acquiring an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Activity

In related news, CFO Mark W. Jenkins sold 208,495 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $224.43, for a total value of $46,792,532.85. Following the transaction, the chief financial officer now owns 90,732 shares in the company, valued at approximately $20,362,982.76. The trade was a 69.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the transaction, the insider now directly owns 151,029 shares of the company’s stock, valued at $37,440,089.10. This represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 751,908 shares of company stock worth $161,216,285 over the last 90 days. Company insiders own 17.12% of the company’s stock.

Carvana Trading Up 9.2 %

NYSE:CVNA opened at $213.16 on Thursday. Carvana Co. has a 12 month low of $40.21 and a 12 month high of $268.34. The business’s 50-day moving average is $232.76 and its two-hundred day moving average is $184.99. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm has a market capitalization of $44.26 billion, a PE ratio of 21,337.34 and a beta of 3.32.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. Research analysts predict that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on CVNA shares. JPMorgan Chase & Co. increased their price target on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Piper Sandler increased their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Jefferies Financial Group increased their price objective on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their target price on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.94.

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.