Arrowstreet Capital Limited Partnership Acquires Shares of 426,024 Carvana Co. (NYSE:CVNA)

Arrowstreet Capital Limited Partnership bought a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 426,024 shares of the company's stock, valued at approximately $86,636,000. Arrowstreet Capital Limited Partnership owned about 0.21% of Carvana at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CVNA. Quent Capital LLC purchased a new position in Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC raised its position in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Carvana in the fourth quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new position in shares of Carvana in the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc acquired a new position in Carvana during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CVNA shares. Royal Bank of Canada raised their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Stephens reiterated an "overweight" rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Wedbush set a $250.00 target price on Carvana and gave the company a "neutral" rating in a report on Wednesday, February 19th. Morgan Stanley upgraded Carvana from an "underweight" rating to an "overweight" rating in a report on Monday. Finally, William Blair reissued an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $261.53.

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Carvana Stock Down 19.5 %

CVNA traded down $44.22 during trading hours on Thursday, hitting $182.10. 10,744,174 shares of the company's stock were exchanged, compared to its average volume of 3,952,888. The firm has a market cap of $38.82 billion, a P/E ratio of 115.99 and a beta of 3.56. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The firm has a 50 day moving average of $226.26 and a 200 day moving average of $219.11.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, insider Thomas Taira sold 27,593 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now directly owns 179,673 shares in the company, valued at approximately $40,431,815.19. This trade represents a 13.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 43,433 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the transaction, the chief financial officer now directly owns 214,678 shares of the company's stock, valued at approximately $44,925,665.06. This represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 280,810 shares of company stock valued at $61,698,820 in the last quarter. Corporate insiders own 17.12% of the company's stock.

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.