Penserra Capital Management LLC Buys 50,470 Shares of Carvana Co (CVNA)
Penserra Capital Management LLC grew its stake in Carvana Co (NYSE:CVNA) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 375,613 shares of the company’s stock after acquiring an additional 50,470 shares during the quarter. Penserra Capital Management LLC’s holdings in Carvana were worth $7,181,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of CVNA. FMR LLC purchased a new stake in shares of Carvana in the second quarter valued at $26,992,000. Sylebra HK Co Ltd lifted its position in shares of Carvana by 184.4% in the third quarter. Sylebra HK Co Ltd now owns 1,302,420 shares of the company’s stock valued at $19,120,000 after acquiring an additional 844,516 shares in the last quarter. Vanguard Group Inc. purchased a new stake in shares of Carvana in the second quarter valued at $10,730,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Carvana in the fourth quarter valued at $7,000,000. Finally, Goodnow Investment Group LLC lifted its position in shares of Carvana by 45.0% in the third quarter. Goodnow Investment Group LLC now owns 829,142 shares of the company’s stock valued at $12,172,000 after acquiring an additional 257,297 shares in the last quarter. Institutional investors and hedge funds own 15.41% of the company’s stock.
Several brokerages have recently issued reports on CVNA. Zacks Investment Research upgraded Carvana from a “sell” rating to a “hold” rating in a research report on Thursday. Wedbush restated a “neutral” rating and issued a $14.00 price objective (down from $20.00) on shares of Carvana in a research report on Wednesday, November 8th. ValuEngine upgraded Carvana from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Robert W. Baird reiterated a “buy” rating and issued a $17.00 target price on shares of Carvana in a research note on Monday, November 20th. Finally, JMP Securities dropped their target price on Carvana from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.88.
In other Carvana news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $22.65, for a total transaction of $24,951,783.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.69% of the company’s stock.
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Carvana Company Profile
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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