Worldquant Millennium Advisors LLC Acquires New Shares in Carvana Co. (NYSE:CVNA)

Worldquant Millennium Advisors LLC acquired a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 251,236 shares of the company's stock, valued at approximately $51,091,000. Worldquant Millennium Advisors LLC owned about 0.12% of Carvana at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Whale Rock Capital Management LLC boosted its position in shares of Carvana by 29.8% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after buying an additional 278,760 shares during the last quarter. Twinbeech Capital LP purchased a new position in Carvana in the fourth quarter worth about $41,707,000. Strategic Wealth Partners Ltd. purchased a new position in Carvana in the fourth quarter worth about $161,000. Toronto Dominion Bank purchased a new position in Carvana in the fourth quarter worth about $3,124,000. Finally, Steadfast Capital Management LP boosted its position in Carvana by 4.4% in the fourth quarter. Steadfast Capital Management LP now owns 259,598 shares of the company's stock worth $52,792,000 after purchasing an additional 10,950 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Price Performance

CVNA opened at $304.92 on Tuesday. The business has a fifty day moving average of $223.22 and a 200 day moving average of $230.75. Carvana Co. has a 52-week low of $97.55 and a 52-week high of $311.88. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The stock has a market cap of $65.30 billion, a P/E ratio of 194.22 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating 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 company 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. Carvana's revenue was up 38.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVNA. DA Davidson raised their target price on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. JMP Securities dropped their target price on Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Royal Bank of Canada raised their price objective on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Piper Sandler raised their price objective on Carvana from $225.00 to $230.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Carvana currently has a consensus rating of "Moderate Buy" and a consensus target price of $269.18.

Insider Activity at Carvana

In other Carvana news, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the completion of the sale, the insider now directly owns 179,673 shares of the company's stock, valued at $40,431,815.19. The trade was a 13.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan S. Keeton sold 13,137 shares of Carvana stock in a transaction on Friday, May 16th. The shares were sold at an average price of $300.00, for a total value of $3,941,100.00. Following the sale, the insider now directly owns 148,402 shares of the company's stock, valued at approximately $44,520,600. This trade represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 590,313 shares of company stock worth $145,613,672 in the last quarter. 17.12% of the stock is owned by company insiders.

Carvana Company 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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