Brightlight Capital Management LP Has $37.91 Million Holdings in Carvana Co. (NYSE:CVNA)

Brightlight Capital Management LP decreased its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 31.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 186,400 shares of the company's stock after selling 87,000 shares during the quarter. Carvana accounts for approximately 27.7% of Brightlight Capital Management LP's holdings, making the stock its biggest position. Brightlight Capital Management LP owned approximately 0.09% of Carvana worth $37,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CVNA. Charles Schwab Investment Management Inc. boosted its position in Carvana by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after purchasing an additional 39,089 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Carvana by 135.5% in the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock worth $1,062,000 after buying an additional 2,994 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock worth $97,305,000 after buying an additional 130,942 shares during the last quarter. Oak Thistle LLC increased its holdings in Carvana by 115.9% during the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock valued at $658,000 after buying an additional 1,738 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Carvana by 33.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company's stock valued at $77,807,000 after buying an additional 95,497 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on CVNA. Wells Fargo & Company upped their price objective on Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research note on Thursday. Wedbush raised Carvana to a "hold" rating in a research note on Thursday. Piper Sandler boosted their price objective on Carvana from $225.00 to $230.00 and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. JMP Securities decreased their target price on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "overweight" rating in a research report on Monday, March 31st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $268.59.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 20,000 shares of Carvana stock in a transaction on Friday, February 14th. The stock was sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the completion of the sale, the chief financial officer now directly owns 199,962 shares in the company, valued at approximately $55,125,524.16. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 1,362 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 348,560 shares of company stock valued at $73,806,520 over the last 90 days. Insiders own 17.12% of the company's stock.

Carvana Trading Down 6.0 %

NYSE CVNA traded down $17.26 during trading hours on Friday, hitting $268.27. 8,144,599 shares of the company were exchanged, compared to its average volume of 3,918,428. Carvana Co. has a 52 week low of $97.55 and a 52 week high of $293.62. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The stock has a 50-day moving average price of $209.94 and a 200 day moving average price of $227.21. The stock has a market cap of $57.19 billion, a PE ratio of 170.87 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the previous year, the business posted $0.23 earnings per share. The business's revenue was up 38.3% compared to the same quarter last year. Analysts forecast that Carvana Co. will post 2.85 earnings per share 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.