Oak Ridge Investments LLC Takes Position in Carvana Co. $CVNA

Oak Ridge Investments LLC purchased a new position in Carvana Co. (NYSE:CVNA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,694 shares of the company’s stock, valued at approximately $639,000.

Other hedge funds also recently bought and sold shares of the company. Hilltop National Bank bought a new stake in shares of Carvana during the 2nd quarter valued at about $25,000. ORG Partners LLC boosted its holdings in shares of Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after buying an additional 87 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in Carvana during the third quarter valued at approximately $38,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Carvana in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Down 3.8%

NYSE CVNA opened at $443.34 on Monday. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $485.33. 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 market cap of $96.44 billion, a PE ratio of 101.22, a P/E/G ratio of 1.06 and a beta of 3.54. The stock’s 50 day moving average is $406.54 and its 200 day moving average is $372.41.

Carvana (NYSE:CVNA) last released its quarterly earnings data 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). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s quarterly revenue was up 54.5% on a year-over-year basis. Research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CVNA shares. Weiss Ratings restated a “hold (c)” rating on shares of Carvana in a research note on Monday, December 29th. Bank of America upped their price target on Carvana from $455.00 to $515.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Citigroup lifted their price objective on Carvana from $445.00 to $550.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Royal Bank Of Canada reiterated an “outperform” rating and set a $460.00 price objective on shares of Carvana in a research note on Thursday, October 30th. Finally, Wall Street Zen cut shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $465.64.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 10,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $401.94, for a total value of $4,019,400.00. Following the sale, the chief operating officer owned 99,871 shares in the company, valued at $40,142,149.74. The trade was a 9.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Gill sold 40,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $475.24, for a total value of $19,009,600.00. Following the transaction, the insider owned 191,106 shares of the company’s stock, valued at approximately $90,821,215.44. The trade was a 17.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 467,626 shares of company stock worth $192,090,109 in the last 90 days. 17.12% of the stock is owned by company insiders.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.