Bayesian Capital Management LP Purchases New Position in Carvana Co. (NYSE:CVNA)

Bayesian Capital Management LP acquired a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,111 shares of the company's stock, valued at approximately $2,870,000.

Several other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after purchasing an additional 481,912 shares in the last quarter. AXA S.A. bought a new position in shares of Carvana in the fourth quarter valued at approximately $201,000. Allegheny Financial Group bought a new position in shares of Carvana in the fourth quarter valued at approximately $354,000. 3G Capital Partners LP increased its position in shares of Carvana by 173.8% during the fourth quarter. 3G Capital Partners LP now owns 35,000 shares of the company's stock valued at $7,118,000 after acquiring an additional 22,218 shares during the last quarter. Finally, Palestra Capital Management LLC lifted its holdings in Carvana by 15.5% during the fourth quarter. Palestra Capital Management LLC now owns 807,016 shares of the company's stock worth $164,115,000 after acquiring an additional 108,203 shares during the period. Institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVNA. Wells Fargo & Company reaffirmed a "market outperform" rating on shares of Carvana in a research report on Tuesday. Bank of America decreased their price objective on shares of Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Wedbush set a $250.00 price target on shares of Carvana and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Citigroup decreased their target price on Carvana from $320.00 to $280.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average price target of $254.76.

Insider Buying and Selling

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares of the company's stock, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $150.90, for a total value of $7,545,000.00. Following the completion of the sale, the chief operating officer now owns 123,803 shares of the company's stock, valued at approximately $18,681,872.70. This trade represents a 28.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 348,560 shares of company stock valued at $73,806,520 over the last three months. 17.12% of the stock is owned by company insiders.

Carvana Trading Down 0.1 %

Carvana stock traded down $0.38 during mid-day trading on Tuesday, hitting $259.19. The company's stock had a trading volume of 2,832,464 shares, compared to its average volume of 3,870,532. The business has a 50 day moving average price of $207.06 and a 200-day moving average price of $225.64. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $292.84. The stock has a market cap of $55.25 billion, a price-to-earnings ratio of 165.09 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Carvana 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.