625,000 Shares in Carvana Co. $CVNA Acquired by Sachem Head Capital Management LP

Sachem Head Capital Management LP purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 625,000 shares of the company’s stock, valued at approximately $263,762,000. Carvana comprises about 6.2% of Sachem Head Capital Management LP’s investment portfolio, making the stock its 7th largest position.

Other large investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Carvana during the 4th quarter worth approximately $29,000. Farmers & Merchants Investments Inc. bought a new stake in Carvana during the 4th quarter worth approximately $29,000. Motiv8 Investments LLC bought a new stake in Carvana during the 4th quarter worth approximately $33,000. Salomon & Ludwin LLC grew its position in Carvana by 112.5% during the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after acquiring an additional 45 shares during the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in Carvana during the 3rd quarter worth approximately $38,000. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $61.97, for a total value of $3,098,600.00. Following the transaction, the chief operating officer directly owned 464,620 shares in the company, valued at $28,793,430.64. This trade represents a 9.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $62.07, for a total value of $3,956,962.50. Following the completion of the transaction, the chief financial officer owned 985,445 shares in the company, valued at $61,166,571.15. This represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 400,812 shares of company stock valued at $28,039,446 over the last 90 days. Company insiders own 15.19% of the company’s stock.

Carvana Stock Down 0.0%

Shares of CVNA opened at $64.09 on Monday. The firm has a market capitalization of $70.30 billion, a price-to-earnings ratio of 38.98, a PEG ratio of 10.82 and a beta of 3.45. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The business’s fifty day moving average price is $71.20 and its two-hundred day moving average price is $75.23. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. On average, analysts predict that Carvana Co. will post 1.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CVNA shares. Gordon Haskett increased their price target on Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. UBS Group restated a “buy” rating and set a $104.00 price target (up from $97.00) on shares of Carvana in a research report on Thursday, April 30th. Royal Bank Of Canada restated an “outperform” rating and set a $92.00 price target on shares of Carvana in a research report on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $107.40 price target on shares of Carvana in a research report on Thursday, April 30th. Finally, Zacks Research upgraded Carvana from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $93.14.

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.