Concentric Capital Strategies LP Buys Shares of 7,830 Carvana Co. (NYSE:CVNA)

Concentric Capital Strategies LP purchased a new position in Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,830 shares of the company's stock, valued at approximately $1,592,000.

Other institutional investors have also made changes to their positions in the company. CoreCap Advisors LLC lifted its position in Carvana by 84.6% in the 4th quarter. CoreCap Advisors LLC now owns 971 shares of the company's stock worth $197,000 after buying an additional 445 shares in the last quarter. Crestline Management LP purchased a new stake in shares of Carvana during the fourth quarter worth $691,000. Castle Hook Partners LP acquired a new stake in Carvana during the fourth quarter valued at $116,020,000. Centiva Capital LP grew its stake in Carvana by 159.1% in the fourth quarter. Centiva Capital LP now owns 8,265 shares of the company's stock valued at $1,681,000 after purchasing an additional 5,075 shares in the last quarter. Finally, Blue Capital Inc. acquired a new position in Carvana in the 4th quarter worth about $629,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several recent research reports. Morgan Stanley raised Carvana from an "underweight" rating to an "overweight" rating in a research note on Monday, March 31st. JMP Securities decreased 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 report on Wednesday, April 9th. Wedbush set a $250.00 price objective on shares of Carvana and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Needham & Company LLC reissued a "buy" rating and set a $340.00 target price on shares of Carvana in a research report on Friday, March 7th. Finally, Stephens reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.76.

Insider Activity

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction 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 directly owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas Taira sold 5,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $260.00, for a total transaction of $1,300,000.00. Following the completion of the sale, the insider now owns 171,509 shares in the company, valued at $44,592,340. This represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 348,560 shares of company stock worth $73,806,520. Corporate insiders own 17.12% of the company's stock.

Carvana Trading Down 0.1 %

Carvana stock opened at $258.44 on Thursday. 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 $55.09 billion, a price-to-earnings ratio of 164.61 and a beta of 3.61. The business has a 50 day moving average price of $207.56 and a two-hundred day moving average price of $225.87. 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 issued its earnings results on Wednesday, May 7th. The company reported $1.51 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 analysts' expectations of $3.94 billion. During the same period last year, the business earned $0.23 earnings per share. Carvana's quarterly revenue was up 38.3% compared to the same quarter last year. As a group, equities 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.

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