Carvana Co. $CVNA Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. grew its position in Carvana Co. (NYSE:CVNA) by 112,145.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 102,143 shares of the company’s stock after acquiring an additional 102,052 shares during the quarter. Bessemer Group Inc.’s holdings in Carvana were worth $38,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Los Angeles Capital Management LLC increased its holdings in shares of Carvana by 1,950.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock valued at $37,467,000 after purchasing an additional 105,768 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Carvana by 124.9% during the third quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock worth $100,316,000 after buying an additional 147,683 shares in the last quarter. Hudson Bay Capital Management LP grew its position in Carvana by 158.0% during the second quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock worth $5,552,000 after buying an additional 10,090 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Carvana by 11.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock valued at $240,476,000 after buying an additional 64,424 shares in the last quarter. Finally, Strs Ohio lifted its position in shares of Carvana by 89.9% during the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock valued at $14,243,000 after acquiring an additional 17,878 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVNA. Weiss Ratings restated a “hold (c)” rating on shares of Carvana in a report on Monday, December 29th. Gordon Haskett decreased their target price on Carvana from $445.00 to $435.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Citigroup upped their target price on Carvana from $445.00 to $550.00 and gave the company a “buy” rating in a report on Friday, December 12th. Wall Street Zen downgraded Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Finally, Wedbush boosted their price objective on shares of Carvana from $400.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $474.27.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 40,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $439.50, for a total transaction of $17,580,000.00. Following the sale, the chief operating officer directly owned 100,758 shares of the company’s stock, valued at $44,283,141. This trade represents a 28.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Maroone sold 30,928 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $400.34, for a total transaction of $12,381,715.52. Following the completion of the transaction, the director directly owned 143,573 shares of the company’s stock, valued at approximately $57,478,014.82. This represents a 17.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 432,756 shares of company stock worth $183,581,477 in the last 90 days. 17.12% of the stock is currently owned by corporate insiders.

Carvana Stock Performance

NYSE CVNA opened at $384.30 on Friday. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $486.89. The business has a fifty day moving average of $435.88 and a 200-day moving average of $380.37. The stock has a market cap of $83.60 billion, a price-to-earnings ratio of 87.74, a price-to-earnings-growth ratio of 0.96 and a beta of 3.57.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.