Blueshift Asset Management LLC Invests $724,000 in Carvana Co. (NYSE:CVNA)

Blueshift Asset Management LLC bought a new position in shares of Carvana Co. (NYSE:CVNA) in the fourth quarter, Holdings Channel reports. The fund bought 3,562 shares of the company’s stock, valued at approximately $724,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its holdings in shares of Carvana by 57.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,343 shares of the company’s stock worth $476,000 after buying an additional 854 shares in the last quarter. Vinva Investment Management Ltd acquired a new position in Carvana in the fourth quarter valued at about $919,000. Xponance Inc. raised its stake in Carvana by 89.5% in the fourth quarter. Xponance Inc. now owns 14,126 shares of the company’s stock valued at $2,873,000 after purchasing an additional 6,672 shares in the last quarter. Primecap Management Co. CA acquired a new position in Carvana in the fourth quarter valued at about $35,568,000. Finally, Axxcess Wealth Management LLC raised its stake in Carvana by 5.7% in the fourth quarter. Axxcess Wealth Management LLC now owns 4,759 shares of the company’s stock valued at $968,000 after purchasing an additional 255 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of CVNA stock opened at $176.34 on Thursday. The company has a market cap of $37.59 billion, a price-to-earnings ratio of 112.32 and a beta of 3.56. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a 50 day moving average of $227.84 and a 200-day moving average of $214.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,784 shares of company stock worth $27,524,344 in the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of analyst reports. Citigroup boosted their price target on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $340.00 price target on shares of Carvana in a research note on Friday, March 7th. Royal Bank of Canada boosted their target price on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Bank of America dropped their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 14th. Finally, Evercore ISI dropped their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average target price of $262.71.

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.