Fox Run Management L.L.C. Acquires Shares of 2,180 Carvana Co. $CVNA

Fox Run Management L.L.C. bought a new position in shares of Carvana Co. (NYSE:CVNA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,180 shares of the company’s stock, valued at approximately $822,000.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC raised its position in Carvana by 8,700.0% in the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after purchasing an additional 87 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Carvana in the 3rd quarter valued at $38,000. Washington Trust Advisors Inc. bought a new stake in shares of Carvana during the third quarter worth $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana during the second quarter valued at $38,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Carvana during the second quarter valued at $49,000. 56.71% of the stock is owned by institutional investors.

Carvana Stock Up 5.7%

Shares of NYSE CVNA opened at $354.03 on Friday. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $486.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31. The stock has a market cap of $77.02 billion, a P/E ratio of 44.03 and a beta of 3.57. The firm has a 50 day moving average price of $413.48 and a 200 day moving average price of $381.08.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same period last year, the firm posted $0.56 earnings per share. The business’s quarterly revenue was up 58.0% compared to the same quarter last year. Analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Insider Activity

In other Carvana news, insider Thomas Taira sold 30,952 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $435.96, for a total value of $13,493,833.92. Following the completion of the transaction, the insider directly owned 69,880 shares of the company’s stock, valued at approximately $30,464,884.80. The trade was a 30.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael E. Maroone sold 30,928 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total value of $12,381,715.52. Following the sale, the director directly owned 143,573 shares in the company, valued at approximately $57,478,014.82. This represents a 17.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 390,351 shares of company stock valued at $168,588,549. Company insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVNA. Evercore lowered their price objective on Carvana from $430.00 to $390.00 in a research report on Thursday, February 19th. Barclays lowered their price target on shares of Carvana from $530.00 to $450.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Morgan Stanley restated an “overweight” rating on shares of Carvana in a report on Thursday, January 8th. Argus assumed coverage on shares of Carvana in a report on Monday, December 15th. They set a “buy” rating and a $500.00 target price for the company. Finally, Jefferies Financial Group dropped their target price on shares of Carvana from $550.00 to $485.00 and set a “buy” rating for the company in a research report on Monday. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $440.59.

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.