Carvana Co. $CVNA Shares Acquired by Ardmore Road Asset Management LP

Key Points

• Ardmore Road Asset Management LP increased its stake in Carvana Co. by 50%, acquiring an additional 50,000 shares, which now totals 150,000 shares, representing about 3.1% of its investment portfolio.
• Carvana has seen positive analyst sentiment with several firms, including Bank of America and Royal Bank of Canada, raising their target prices and affirming "buy" or "outperform" ratings on the stock.
• As of the latest reporting, the stock price of Carvana has fluctuated significantly, with a 12-month low of $124.39 and high of $413.33, currently priced at $371.96.

Ardmore Road Asset Management LP increased its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 50.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,000 shares of the company's stock after acquiring an additional 50,000 shares during the period. Carvana comprises 3.1% of Ardmore Road Asset Management LP's holdings, making the stock its 12th largest position. Ardmore Road Asset Management LP owned approximately 0.07% of Carvana worth $31,362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVNA. Brooklyn Investment Group grew its holdings in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Carvana in the first quarter valued at approximately $33,000. Versant Capital Management Inc grew its holdings in Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Carvana in the first quarter valued at approximately $90,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Carvana in the fourth quarter valued at approximately $98,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction on Friday, August 29th. The stock was sold at an average price of $370.23, for a total value of $3,702,300.00. Following the sale, the chief executive officer owned 486,440 shares in the company, valued at $180,094,681.20. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 2,700,257 shares of company stock valued at $949,012,330 in the last quarter. 16.36% of the stock is owned by insiders.

Carvana Trading Down 1.1%

Carvana stock traded down $3.94 during trading on Wednesday, reaching $362.45. 1,469,458 shares of the company were exchanged, compared to its average volume of 4,049,638. Carvana Co. has a 52-week low of $124.39 and a 52-week high of $413.33. The company has a market capitalization of $78.00 billion, a P/E ratio of 90.84, a PEG ratio of 1.23 and a beta of 3.51. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The stock's 50 day simple moving average is $348.61 and its two-hundred day simple moving average is $283.86.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the business posted ($0.05) earnings per share. The firm's revenue was up 41.9% compared to the same quarter last year. On average, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVNA. DA Davidson raised their price objective on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Needham & Company LLC raised their price objective on Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Evercore ISI raised their price objective on Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a report on Tuesday, August 12th. Stephens raised their price objective on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, Citigroup restated an "outperform" rating on shares of Carvana in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $383.47.

About Carvana

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.