Man Group plc Has $51.27 Million Position in Carvana Co. (NYSE:CVNA)

Man Group plc increased its stake in Carvana Co. (NYSE:CVNA - Free Report) by 92.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,134 shares of the company's stock after purchasing an additional 121,459 shares during the quarter. Man Group plc owned about 0.12% of Carvana worth $51,274,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CVNA. Oak Thistle LLC lifted its holdings in Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock worth $658,000 after purchasing an additional 1,738 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Carvana by 33.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company's stock worth $77,807,000 after purchasing an additional 95,497 shares during the period. Avanza Fonder AB acquired a new stake in Carvana in the fourth quarter worth about $2,373,000. Atomi Financial Group Inc. lifted its holdings in Carvana by 9.1% in the fourth quarter. Atomi Financial Group Inc. now owns 1,805 shares of the company's stock worth $367,000 after purchasing an additional 151 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Carvana by 0.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company's stock worth $5,657,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Activity

In other news, insider Daniel J. Gill sold 70,166 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $281.43, for a total value of $19,746,817.38. Following the transaction, the insider now owns 201,087 shares in the company, valued at $56,591,914.41. This represents a 25.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Benjamin E. Huston sold 50,000 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $150.90, for a total value of $7,545,000.00. Following the completion of the transaction, the chief operating officer now owns 123,803 shares in the company, valued at $18,681,872.70. This represents a 28.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 618,735 shares of company stock worth $153,823,367 in the last 90 days. Company insiders own 16.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVNA. William Blair reaffirmed an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Citigroup upped their price target on shares of Carvana from $280.00 to $325.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley upped their price target on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday. Wedbush raised shares of Carvana to a "hold" rating in a report on Thursday, May 8th. Finally, DA Davidson upped their price target on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $269.18.

Carvana Trading Up 0.8%

NYSE CVNA traded up $2.28 on Friday, hitting $299.68. 3,656,928 shares of the company were exchanged, compared to its average volume of 3,937,649. The company's 50 day moving average price is $220.71 and its 200-day moving average price is $230.33. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The firm has a market capitalization of $63.88 billion, a P/E ratio of 190.88 and a beta of 3.61. Carvana Co. has a twelve month low of $97.55 and a twelve month high of $311.88.

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, topping the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. Analysts predict that Carvana Co. will post 2.85 earnings per share 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.