BIT Capital GmbH Boosts Position in Carvana Co. (NYSE:CVNA)

BIT Capital GmbH grew its holdings in shares of Carvana Co. (NYSE:CVNA) by 53.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,027 shares of the company’s stock after buying an additional 359 shares during the quarter. BIT Capital GmbH’s holdings in Carvana were worth $209,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $94,148,000 after buying an additional 39,089 shares during the period. Plato Investment Management Ltd grew its position in Carvana by 135.5% in the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock valued at $1,062,000 after acquiring an additional 2,994 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Carvana by 37.7% during the fourth 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. Oak Thistle LLC boosted its stake in shares of 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 period. Finally, Assenagon Asset Management S.A. grew its holdings in Carvana by 33.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock valued at $77,807,000 after purchasing an additional 95,497 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CVNA shares. Bank of America cut their price objective on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Piper Sandler upgraded Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective for the company in a research note on Thursday, March 20th. Wedbush set a $250.00 target price on Carvana and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, DA Davidson lifted their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $263.88.

Insider Activity

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 sale, the insider now 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,377 shares of company stock valued at $44,251,096. Insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of CVNA opened at $205.12 on Thursday. 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 company has a market cap of $43.72 billion, a P/E ratio of 130.65 and a beta of 3.56. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. The stock has a fifty day moving average price of $228.32 and a 200 day moving average price of $216.50.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations 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 earnings per share for the current year.

About Carvana

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.