Carvana Co. $CVNA Shares Bought by Goodnow Investment Group LLC

Key Points

• Goodnow Investment Group increased its Carvana stake by 9.0% in the fourth quarter, making CVNA its largest portfolio holding at about 28% of assets. The firm now owns 710,091 shares valued at roughly $299.7 million.
• Other major institutions also boosted their positions, including Vanguard, State Street, Capital Research Global Investors, and Geode Capital Management. Overall, institutional investors and hedge funds own about 56.71% of Carvana’s stock.
• Analysts remain mostly positive on Carvana, with a consensus rating of Moderate Buy and an average target price of $93.14. Carvana also recently beat first-quarter expectations, posting EPS of $1.69 on revenue of $6.43 billion.

Goodnow Investment Group LLC increased its position in Carvana Co. (NYSE:CVNA - Free Report) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 710,091 shares of the company's stock after buying an additional 58,828 shares during the quarter. Carvana accounts for approximately 28.0% of Goodnow Investment Group LLC's investment portfolio, making the stock its largest position. Goodnow Investment Group LLC owned approximately 0.33% of Carvana worth $299,673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVNA. Vanguard Group Inc. increased its stake in shares of Carvana by 24.7% in the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company's stock valued at $7,082,804,000 after buying an additional 3,328,115 shares during the period. State Street Corp increased its stake in shares of Carvana by 93.7% in the fourth quarter. State Street Corp now owns 5,714,779 shares of the company's stock valued at $2,411,751,000 after buying an additional 2,764,759 shares during the period. Capital Research Global Investors increased its stake in shares of Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock valued at $2,405,959,000 after buying an additional 1,711,144 shares during the period. Geode Capital Management LLC increased its stake in shares of Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company's stock valued at $1,632,763,000 after buying an additional 1,382,852 shares during the period. Finally, Viking Global Investors LP boosted its holdings in Carvana by 94.9% in the third quarter. Viking Global Investors LP now owns 2,101,241 shares of the company's stock valued at $792,672,000 after acquiring an additional 1,023,265 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVNA. Needham & Company LLC reissued a "buy" rating and set a $120.00 target price on shares of Carvana in a research report on Friday, June 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $92.00 target price on shares of Carvana in a research report on Friday. Barclays set a $93.00 target price on shares of Carvana and gave the company an "overweight" rating in a research report on Thursday, May 14th. Gordon Haskett increased their target price on shares of Carvana from $67.00 to $85.00 and gave the company a "hold" rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company increased their target price on shares of Carvana from $85.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $93.14.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 63,750 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $62.07, for a total transaction of $3,956,962.50. Following the transaction, the chief financial officer directly owned 985,445 shares in the company, valued at approximately $61,166,571.15. This represents a 6.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Taira sold 18,850 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $68.20, for a total value of $1,285,570.00. Following the transaction, the insider owned 292,820 shares in the company, valued at $19,970,324. The trade was a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 400,812 shares of company stock valued at $28,039,446 over the last 90 days. 15.19% of the stock is currently owned by corporate insiders.

Carvana Stock Performance

NYSE:CVNA opened at $68.81 on Tuesday. The company has a market capitalization of $75.48 billion, a PE ratio of 41.86, a P/E/G ratio of 10.82 and a beta of 3.45. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The company has a 50 day simple moving average of $71.33 and a two-hundred day simple moving average of $75.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $1.37. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. Research analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current year.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

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