Senator Investment Group LP Raises Holdings in Carvana Co. (NYSE:CVNA)

Senator Investment Group LP increased its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,024 shares of the company's stock after purchasing an additional 7,500 shares during the quarter. Carvana accounts for 2.6% of Senator Investment Group LP's holdings, making the stock its 8th biggest position. Senator Investment Group LP owned about 0.21% of Carvana worth $88,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP lifted its position in shares of Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after buying an additional 57,215 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after purchasing an additional 75,250 shares during the last quarter. Norges Bank bought a new stake in shares of Carvana during the 4th quarter worth $179,364,000. Finally, First Trust Advisors LP boosted its holdings in Carvana by 4.0% during the fourth quarter. First Trust Advisors LP now owns 593,636 shares of the company's stock valued at $120,722,000 after acquiring an additional 22,640 shares during the period. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Price Performance

Carvana stock traded up $8.79 during mid-day trading on Wednesday, reaching $220.74. The company had a trading volume of 5,238,478 shares, compared to its average volume of 4,062,702. The business has a fifty day simple moving average of $206.80 and a 200 day simple moving average of $221.84. The company has a market cap of $47.05 billion, a P/E ratio of 140.60 and a beta of 3.61. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a fifty-two week low of $71.39 and a fifty-two week high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVNA shares. DA Davidson increased their target price on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a "buy" rating and set a $340.00 price objective on shares of Carvana in a research note on Friday, March 7th. JMP Securities dropped their price objective on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. Stephens reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Carvana currently has an average rating of "Moderate Buy" and a consensus target price of $253.88.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 43,433 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total transaction of $9,089,223.91. Following the completion of the sale, the chief financial officer now directly owns 214,678 shares of the company's stock, valued at $44,925,665.06. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $150.90, for a total value of $7,545,000.00. Following the completion of the sale, the chief operating officer now directly owns 123,803 shares of the company's stock, valued at approximately $18,681,872.70. This trade represents a 28.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 330,810 shares of company stock valued at $69,243,820 over the last 90 days. Company insiders own 17.12% of the company's stock.

Carvana 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.