Styrax Capital LP Has $98.73 Million Position in Carvana Co. $CVNA

Styrax Capital LP boosted its holdings in Carvana Co. (NYSE:CVNA) by 400.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,500,000 shares of the company’s stock after buying an additional 1,200,000 shares during the quarter. Carvana accounts for about 6.5% of Styrax Capital LP’s investment portfolio, making the stock its 8th largest position. Styrax Capital LP owned approximately 0.14% of Carvana worth $98,730,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CVNA. Ascentis Independent Advisors acquired a new position in shares of Carvana in the 1st quarter worth $26,000. Farmers & Merchants Investments Inc. acquired a new stake in Carvana during the 4th quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. Transamerica Financial Advisors LLC boosted its holdings in shares of Carvana by 558.0% in the second quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock worth $30,000 after buying an additional 385 shares during the period. Finally, Motiv8 Investments LLC acquired a new position in shares of Carvana in the fourth quarter worth about $33,000. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total value of $4,356,675.00. Following the sale, the chief financial officer directly owned 1,029,580 shares of the company’s stock, valued at approximately $70,361,497.20. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of Carvana stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total value of $1,016,750.00. Following the completion of the transaction, the director owned 214,960 shares in the company, valued at $15,047,200. The trade was a 6.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 420,897 shares of company stock worth $28,914,626. Corporate insiders own 15.19% of the company’s stock.

Carvana Stock Performance

Shares of NYSE CVNA opened at $74.65 on Friday. The business’s 50-day simple moving average is $68.89 and its 200-day simple moving average is $68.31. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The firm has a market cap of $82.15 billion, a price-to-earnings ratio of 41.29, a P/E/G ratio of 2.18 and a beta of 3.49.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.51 earnings per share. As a group, equities research analysts expect that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on CVNA. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Hovde Group raised their target price on Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada set a $82.00 price target on Carvana and gave the company an “outperform” rating in a report on Thursday, July 30th. Evercore set a $75.00 price target on Carvana in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $80.00 price objective on shares of Carvana in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Carvana 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.