Los Angeles Capital Management LLC Has $1.51 Million Stock Holdings in Carvana Co. (NYSE:CVNA)

Los Angeles Capital Management LLC raised its position in Carvana Co. (NYSE:CVNA) by 78.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,558 shares of the company’s stock after purchasing an additional 12,559 shares during the period. Los Angeles Capital Management LLC’s holdings in Carvana were worth $1,512,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Xponance Inc. acquired a new stake in Carvana in the 3rd quarter valued at $240,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Carvana by 20.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,324 shares of the company’s stock worth $769,000 after buying an additional 3,115 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Carvana in the third quarter valued at about $236,000. Strs Ohio increased its holdings in shares of Carvana by 272.5% during the third quarter. Strs Ohio now owns 14,900 shares of the company’s stock worth $625,000 after purchasing an additional 10,900 shares during the period. Finally, TD Asset Management Inc bought a new position in Carvana during the 3rd quarter worth $22,906,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

NYSE:CVNA opened at $116.66 on Wednesday. Carvana Co. has a 52 week low of $8.86 and a 52 week high of $129.00. The firm’s fifty day moving average is $83.59 and its 200-day moving average is $57.44. The firm has a market cap of $23.55 billion, a P/E ratio of 51.17 and a beta of 3.28.

Carvana (NYSE:CVNA) last announced its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. Carvana’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.97) EPS. As a group, sell-side analysts anticipate that Carvana Co. will post -3.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVNA. Needham & Company LLC reaffirmed a “hold” rating on shares of Carvana in a research report on Thursday, May 2nd. Royal Bank of Canada increased their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. Wells Fargo & Company upped their price target on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. Finally, Morgan Stanley increased their target price on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.44.

Insider Activity

In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $120.35, for a total value of $7,221,000.00. Following the completion of the sale, the insider now directly owns 2,992,500 shares in the company, valued at $360,147,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Neha Parikh acquired 1,300 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average price of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the acquisition, the director now directly owns 58,495 shares in the company, valued at approximately $4,504,115. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $120.35, for a total transaction of $7,221,000.00. Following the completion of the sale, the insider now directly owns 2,992,500 shares of the company’s stock, valued at approximately $360,147,375. The disclosure for this sale can be found here. Insiders sold 502,233 shares of company stock worth $45,421,169 in the last quarter. 17.18% of the stock is owned by corporate 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.