Assenagon Asset Management S.A. Has $77.81 Million Stake in Carvana Co. (NYSE:CVNA)

Assenagon Asset Management S.A. lifted its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 33.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 382,607 shares of the company's stock after purchasing an additional 95,497 shares during the period. Assenagon Asset Management S.A. owned about 0.18% of Carvana worth $77,807,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. ORG Wealth Partners LLC bought a new stake in Carvana during the fourth quarter valued at $34,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana in the 3rd quarter valued at about $32,000. Versant Capital Management Inc acquired a new position in shares of Carvana in the 4th quarter valued at about $42,000. Capital Performance Advisors LLP bought a new stake in shares of Carvana during the 3rd quarter valued at about $40,000. Finally, First Horizon Advisors Inc. raised its stake in Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company's stock worth $44,000 after acquiring an additional 196 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Price Performance

Shares of NYSE CVNA traded up $17.79 during mid-day trading on Thursday, reaching $231.83. 8,029,790 shares of the company traded hands, compared to its average volume of 6,514,192. Carvana Co. has a fifty-two week low of $40.21 and a fifty-two week high of $268.34. The firm has a market cap of $48.13 billion, a PE ratio of 23,206.01 and a beta of 3.38. The stock has a fifty day simple moving average of $232.25 and a 200-day simple moving average of $185.19. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the business posted $0.23 earnings per share. The firm's revenue for the quarter was up 31.8% compared to the same quarter last year. Equities research analysts anticipate that Carvana Co. will post 0.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Jefferies Financial Group lifted their target price on Carvana from $150.00 to $185.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Morgan Stanley upgraded Carvana from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Wedbush increased their target price on Carvana from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Monday, October 7th. Piper Sandler boosted their price target on shares of Carvana from $151.00 to $225.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price objective on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.94.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now directly owns 189,097 shares of the company's stock, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel J. Gill sold 44,000 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the sale, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 751,908 shares of company stock valued at $161,216,285 over the last three months. Company insiders own 17.18% of the company's stock.

Carvana Company 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.