JAT Capital Mgmt LP Purchases 9,938 Shares of Carvana Co. (NYSE:CVNA)

JAT Capital Mgmt LP raised its stake in Carvana Co. (NYSE:CVNA - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,545 shares of the company's stock after acquiring an additional 9,938 shares during the quarter. Carvana comprises 2.8% of JAT Capital Mgmt LP's holdings, making the stock its 11th largest position. JAT Capital Mgmt LP's holdings in Carvana were worth $17,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CVNA. Charles Schwab Investment Management Inc. increased its holdings in shares of Carvana by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after purchasing an additional 39,089 shares during the period. 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 lifted its stake in shares of Carvana by 37.7% in the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock valued at $97,305,000 after acquiring an additional 130,942 shares during the last quarter. Oak Thistle LLC raised its position in Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock valued at $658,000 after purchasing an additional 1,738 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Carvana by 33.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company's stock worth $77,807,000 after buying an additional 95,497 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVNA shares. Robert W. Baird decreased their price objective on shares of Carvana from $250.00 to $200.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Evercore ISI cut their target price on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Royal Bank of Canada boosted their price target on shares of Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Bank of America dropped their price objective on shares of Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $254.76.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $275.68, for a total value of $5,513,600.00. Following the transaction, the chief financial officer now owns 199,962 shares in the company, valued at approximately $55,125,524.16. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now owns 153,240 shares of the company's stock, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 320,810 shares of company stock worth $66,742,620 over the last three months. 17.12% of the stock is owned by insiders.

Carvana Stock Performance

Shares of NYSE CVNA traded up $2.05 during midday trading on Monday, hitting $259.15. The company's stock had a trading volume of 832,256 shares, compared to its average volume of 3,881,017. The firm has a market capitalization of $55.24 billion, a price-to-earnings ratio of 164.95 and a beta of 3.61. The stock has a fifty day moving average price of $205.81 and a 200 day moving average price of $224.93. Carvana Co. has a one year low of $97.55 and a one year high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.