Ossiam Has $16.88 Million Position in Carvana Co. (NYSE:CVNA)

Ossiam grew its stake in Carvana Co. (NYSE:CVNA) by 78,217.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 83,016 shares of the company’s stock after acquiring an additional 82,910 shares during the period. Ossiam’s holdings in Carvana were worth $16,882,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quent Capital LLC bought a new stake in Carvana in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC increased its position in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in Carvana during the 4th quarter worth $31,000. ORG Wealth Partners LLC bought a new position in Carvana during the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc acquired a new position in Carvana in the fourth quarter valued at about $42,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Trading Up 0.8 %

Shares of Carvana stock opened at $211.03 on Friday. The stock has a market cap of $44.99 billion, a P/E ratio of 134.42 and a beta of 3.61. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The business’s 50 day moving average is $210.77 and its 200-day moving average is $221.19.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wedbush set a $250.00 price target on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird dropped their target price on shares of Carvana from $250.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 price target on shares of Carvana in a report on Friday, March 7th. Piper Sandler upgraded shares of Carvana from a “neutral” rating to an “overweight” rating in a report on Monday, March 31st. Finally, JMP Securities reduced their target price on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.59.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 50,000 shares of the 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 transaction, the chief operating officer now directly owns 123,803 shares of the company’s stock, valued at $18,681,872.70. This represents a 28.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $63,536,023.70. The trade was a 11.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 330,810 shares of company stock worth $69,243,820. Company insiders own 17.12% of the company’s stock.

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.