Castle Hook Partners LP Purchases New Holdings in Carvana Co. (NYSE:CVNA)

Castle Hook Partners LP purchased a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 570,516 shares of the company's stock, valued at approximately $116,020,000. Carvana accounts for 1.4% of Castle Hook Partners LP's investment portfolio, making the stock its 16th biggest position. Castle Hook Partners LP owned approximately 0.27% of Carvana as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Centiva Capital LP raised its position in shares of Carvana by 159.1% during the 4th quarter. Centiva Capital LP now owns 8,265 shares of the company's stock worth $1,681,000 after acquiring an additional 5,075 shares in the last quarter. Blue Capital Inc. purchased a new stake in shares of Carvana during the 4th quarter worth approximately $629,000. Bridgefront Capital LLC grew its position in shares of Carvana by 578.5% in the 4th quarter. Bridgefront Capital LLC now owns 10,550 shares of the company's stock valued at $2,145,000 after buying an additional 8,995 shares during the last quarter. Caxton Associates LP acquired a new stake in Carvana during the 4th quarter worth $769,000. Finally, Bayesian Capital Management LP purchased a new stake in Carvana in the fourth quarter valued at $2,870,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Price Performance

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

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. The business had revenue of $4.23 billion during 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%. The company's revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. As a group, research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares of the company's stock, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 348,560 shares of company stock worth $73,806,520 over the last quarter. 17.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 target price on shares of Carvana in a report on Thursday. Piper Sandler increased their target price on shares of Carvana from $225.00 to $230.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. JMP Securities reduced their target price on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada increased their price target on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, William Blair reiterated an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $268.59.

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.