USS Investment Management Ltd Invests $5.07 Million in Carvana Co. (NYSE:CVNA)

USS Investment Management Ltd purchased a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,936 shares of the company's stock, valued at approximately $5,065,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Carvana by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after buying an additional 39,089 shares during the last quarter. Plato Investment Management Ltd increased its position in Carvana by 135.5% during the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock worth $1,062,000 after purchasing an additional 2,994 shares in the last quarter. Bank of New York Mellon Corp increased its position in Carvana by 37.7% during the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock worth $97,305,000 after purchasing an additional 130,942 shares in the last quarter. Calamos Advisors LLC purchased a new stake in Carvana during the 4th quarter worth about $1,106,000. Finally, Raymond James Financial Inc. purchased a new stake in Carvana during the 4th quarter worth about $60,866,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Robert W. Baird lifted their price objective on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Bank of America lifted their price objective on Carvana from $290.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wedbush upgraded Carvana to a "hold" rating in a research report on Thursday, May 8th. Finally, JMP Securities dropped their price objective on Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $275.65.

Carvana Stock Up 3.4%

Shares of NYSE:CVNA opened at $301.91 on Friday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 1 year low of $97.55 and a 1 year high of $311.88. The stock has a market capitalization of $64.65 billion, a P/E ratio of 192.30 and a beta of 3.61. The stock has a 50-day simple moving average of $230.47 and a 200-day simple moving average of $232.18.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the previous year, the business earned $0.23 EPS. The company's revenue for the quarter was up 38.3% on a year-over-year basis. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares of the company's stock, valued at approximately $35,033,660.22. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Taira sold 27,593 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the transaction, the insider now directly owns 179,673 shares in the company, valued at $40,431,815.19. This trade represents a 13.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 610,313 shares of company stock worth $151,621,372. 17.12% of the stock is currently owned by company insiders.

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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