Greenland Capital Management LP Invests $895,000 in Carvana Co. $CVNA

Greenland Capital Management LP acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the 2nd quarter, HoldingsChannel reports. The firm acquired 2,656 shares of the company’s stock, valued at approximately $895,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Carvana by 1.8% during the second quarter. Vanguard Group Inc. now owns 12,764,230 shares of the company’s stock worth $4,301,035,000 after acquiring an additional 229,387 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Carvana by 11.0% during the second quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock worth $750,301,000 after acquiring an additional 221,161 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Carvana by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock valued at $144,835,000 after acquiring an additional 9,694 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Carvana by 5.4% in the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock worth $143,400,000 after purchasing an additional 35,168 shares during the period. 56.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gregory B. Sullivan sold 2,500 shares of Carvana stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $340.00, for a total transaction of $850,000.00. Following the completion of the transaction, the director directly owned 39,428 shares in the company, valued at approximately $13,405,520. The trade was a 5.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Benjamin E. Huston sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $324.57, for a total value of $3,245,700.00. Following the transaction, the chief operating officer directly owned 101,977 shares in the company, valued at $33,098,674.89. The trade was a 8.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 396,452 shares of company stock worth $144,553,806 in the last three months. Insiders own 17.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVNA. Weiss Ratings reissued a “hold (c-)” rating on shares of Carvana in a research note on Monday. Piper Sandler increased their price objective on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $460.00 target price on shares of Carvana in a research note on Thursday, October 30th. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, William Blair reiterated an “outperform” rating on shares of Carvana in a report on Wednesday, July 23rd. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $414.16.

Carvana Trading Up 3.8%

NYSE CVNA opened at $329.40 on Thursday. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The stock has a 50 day moving average of $349.13 and a 200-day moving average of $339.14. The company has a market cap of $71.66 billion, a PE ratio of 75.21, a PEG ratio of 1.15 and a beta of 3.50.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.26). The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business’s revenue was up 54.5% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.