Armistice Capital LLC Buys New Holdings in Carvana Co. $CVNA

Armistice Capital LLC bought a new stake in Carvana Co. (NYSE:CVNA) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,055 shares of the company’s stock, valued at approximately $1,057,000.

A number of other large investors have also modified their holdings of CVNA. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Castle Hook Partners LP acquired a new position in shares of Carvana in the fourth quarter valued at $116,020,000. BNP Paribas Financial Markets boosted its stake in Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock valued at $207,086,000 after buying an additional 481,912 shares in the last quarter. Finally, Whale Rock Capital Management LLC boosted its stake in Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock valued at $247,017,000 after buying an additional 278,760 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the transaction, the insider owned 37,092,317 shares of the company’s stock, valued at approximately $12,870,663,075.83. This represents a 0.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 2,750,257 shares of company stock worth $965,696,611. 17.12% of the stock is currently owned by corporate insiders.

Carvana Trading Down 1.4%

CVNA stock opened at $371.96 on Monday. The business has a fifty day moving average price of $346.72 and a 200 day moving average price of $282.68. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The stock has a market capitalization of $80.05 billion, a price-to-earnings ratio of 93.22, a P/E/G ratio of 1.23 and a beta of 3.51. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the business earned ($0.05) EPS. The business’s revenue for the quarter was up 41.9% compared to the same quarter last year. Analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

CVNA has been the topic of several recent analyst reports. DA Davidson boosted their price target on Carvana from $260.00 to $380.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Citigroup reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, July 31st. Royal Bank Of Canada boosted their price target on Carvana from $400.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Needham & Company LLC boosted their price target on Carvana from $340.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, Wedbush raised Carvana to a “hold” rating in a research note on Thursday, May 8th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $383.47.

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.