Bridgefront Capital LLC Increases Position in Carvana Co. (NYSE:CVNA)

Bridgefront Capital LLC grew its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 578.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,550 shares of the company's stock after purchasing an additional 8,995 shares during the period. Carvana comprises about 0.7% of Bridgefront Capital LLC's holdings, making the stock its 5th biggest holding. Bridgefront Capital LLC's holdings in Carvana were worth $2,145,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Carvana in the fourth quarter worth about $179,364,000. Vanguard Group Inc. raised its position in Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after acquiring an additional 610,234 shares in the last quarter. BNP Paribas Financial Markets grew its position in Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after acquiring an additional 481,912 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Carvana during the 4th quarter valued at $86,636,000. Finally, Raymond James Financial Inc. bought a new stake in Carvana in the fourth quarter worth $60,866,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley upgraded Carvana from an "underweight" rating to an "overweight" rating in a report on Monday, March 31st. Stephens restated an "overweight" rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Wedbush raised Carvana to a "hold" rating in a research report on Thursday. Royal Bank of Canada upped their price target on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Needham & Company LLC restated a "buy" rating and issued a $340.00 price objective on shares of Carvana in a research note on Thursday. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $268.59.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 20,000 shares of Carvana stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $275.68, for a total value of $5,513,600.00. Following the completion of the transaction, the chief financial officer now directly owns 199,962 shares of the company's stock, valued at $55,125,524.16. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the business'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 trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 348,560 shares of company stock valued at $73,806,520 in the last ninety days. Insiders own 17.12% of the company's stock.

Carvana Price Performance

Shares of CVNA stock traded down $17.26 during trading hours on Friday, hitting $268.27. The company had a trading volume of 8,144,599 shares, compared to its average volume of 3,914,803. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm has a market capitalization of $57.19 billion, a price-to-earnings ratio of 170.87 and a beta of 3.61. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $293.62. The firm's fifty day moving average is $209.94 and its 200 day moving average is $227.00.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the prior year, the company posted $0.23 earnings per share. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. On average, sell-side analysts predict that Carvana Co. will post 2.85 EPS 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.