JAT Capital Mgmt LP Has $17.60 Million Holdings in Carvana Co. (NYSE:CVNA)

JAT Capital Mgmt LP raised its stake in Carvana Co. (NYSE:CVNA) by 13.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 86,545 shares of the company’s stock after purchasing an additional 9,938 shares during the quarter. Carvana makes up 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new position in Carvana during the fourth quarter valued at about $28,000. Global Retirement Partners LLC boosted 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 worth $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Carvana during the fourth quarter worth about $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 bought a new stake in shares of Carvana in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Up 0.9 %

NYSE CVNA opened at $243.59 on Wednesday. The firm has a market cap of $51.93 billion, a PE ratio of 155.15 and a beta of 3.61. Carvana Co. has a 52 week low of $80.07 and a 52 week high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company has a 50 day moving average price of $203.95 and a 200 day moving average price of $223.46.

Carvana (NYSE:CVNA) last posted 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 company had revenue of $3.55 billion during 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%. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 330,810 shares of company stock worth $69,243,820. Insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Robert W. Baird lowered their price target on Carvana from $250.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, April 4th. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research report on Monday, March 3rd. Morgan Stanley upgraded Carvana from an “underweight” rating to an “overweight” rating in a research report on Monday, March 31st. Royal Bank of Canada lifted their price target on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Bank of America cut their price objective on Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average price target of $254.76.

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.