J. Goldman & Co LP Acquires 8,744 Shares of Carvana Co. (NYSE:CVNA)

J. Goldman & Co LP lifted its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 457.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,654 shares of the company's stock after purchasing an additional 8,744 shares during the quarter. J. Goldman & Co LP's holdings in Carvana were worth $2,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVNA. Norges Bank bought a new position in shares of Carvana during the fourth quarter worth $179,364,000. Vanguard Group Inc. boosted its position in shares of Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Castle Hook Partners LP bought a new position in shares of Carvana during the fourth quarter worth $116,020,000. BNP Paribas Financial Markets boosted its position in shares of Carvana by 89.8% during the fourth 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. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Carvana during the fourth quarter worth $86,636,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Needham & Company LLC restated a "buy" rating and set a $340.00 price objective on shares of Carvana in a report on Thursday, May 8th. Citigroup raised their price objective on shares of Carvana from $280.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Robert W. Baird raised their price objective on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, Stephens restated an "overweight" rating and set a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $269.18.

Carvana Stock Down 2.5%

CVNA stock traded down $7.59 during midday trading on Thursday, hitting $297.93. The company's stock had a trading volume of 3,293,524 shares, compared to its average volume of 3,931,675. 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 twelve month low of $97.55 and a twelve month high of $311.88. The company's fifty day moving average price is $215.64 and its 200 day moving average price is $228.91. The stock has a market capitalization of $63.51 billion, a P/E ratio of 189.76 and a beta of 3.61.

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

Insider Transactions at Carvana

In related news, Director Michael E. Maroone sold 9,000 shares of Carvana stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $273.44, for a total transaction of $2,460,960.00. Following the completion of the sale, the director now owns 143,504 shares of the company's stock, valued at approximately $39,239,733.76. The trade was a 5.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the sale, the insider now directly owns 179,673 shares of the company's stock, valued at $40,431,815.19. The trade was a 13.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 441,353 shares of company stock worth $99,768,424 in the last ninety days. Insiders own 16.36% of the company's stock.

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.