Carvana Co. (NYSE:CVNA) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its position in Carvana Co. (NYSE:CVNA) by 10.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,851 shares of the company’s stock after acquiring an additional 17,595 shares during the period. Point72 Asset Management L.P. owned 0.11% of Carvana worth $48,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in Carvana by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,607,674 shares of the company’s stock worth $2,061,882,000 after purchasing an additional 297,458 shares during the period. Baillie Gifford & Co. grew its position in Carvana by 7.4% during the 1st quarter. Baillie Gifford & Co. now owns 6,236,566 shares of the company’s stock worth $1,636,475,000 after purchasing an additional 430,405 shares during the period. Jennison Associates LLC grew its position in Carvana by 59.6% during the 1st quarter. Jennison Associates LLC now owns 5,111,023 shares of the company’s stock worth $1,341,132,000 after purchasing an additional 1,908,755 shares during the period. Spruce House Partnership LLC acquired a new stake in Carvana during the 1st quarter worth about $1,040,013,000. Finally, BlackRock Inc. grew its position in Carvana by 14.0% during the 1st quarter. BlackRock Inc. now owns 3,915,017 shares of the company’s stock worth $1,027,301,000 after purchasing an additional 482,239 shares during the period. 54.02% of the stock is currently owned by hedge funds and other institutional investors.

In related news, major shareholder Ernest C. Garcia II sold 29,401 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $293.38, for a total value of $8,625,665.38. Following the completion of the sale, the insider now directly owns 5,738 shares of the company’s stock, valued at $1,683,414.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction on Wednesday, June 23rd. The shares were sold at an average price of $311.71, for a total transaction of $18,702,600.00. Following the completion of the sale, the insider now directly owns 5,125 shares of the company’s stock, valued at $1,597,513.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,474,947 shares of company stock valued at $423,578,210. Corporate insiders own 10.70% of the company’s stock.

Several research firms have recently issued reports on CVNA. Royal Bank of Canada began coverage on shares of Carvana in a research note on Wednesday, May 26th. They set an “outperform” rating and a $300.00 target price on the stock. Robert W. Baird increased their target price on shares of Carvana from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, June 17th. Piper Sandler lowered shares of Carvana from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $303.00 to $306.00 in a research note on Tuesday, June 29th. raised their price target on shares of Carvana from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, May 11th. Finally, JMP Securities raised their price target on shares of Carvana from $290.00 to $326.00 and gave the company an “outperform” rating in a research note on Friday, May 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $300.88.

Carvana stock opened at $332.01 on Thursday. Carvana Co. has a fifty-two week low of $142.56 and a fifty-two week high of $332.50. The company has a debt-to-equity ratio of 3.13, a current ratio of 3.78 and a quick ratio of 1.71. The firm has a 50 day moving average of $285.77. The firm has a market cap of $57.23 billion, a P/E ratio of -161.80 and a beta of 2.40.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, May 6th. The company reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.70) by $0.24. Carvana had a negative net margin of 2.19% and a negative return on equity of 13.10%. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the company posted ($1.18) EPS. The firm’s revenue was up 104.5% compared to the same quarter last year. As a group, research analysts predict that Carvana Co. will post -1.59 earnings per share for the current year.

About Carvana

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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