Carvana Co. $CVNA Shares Acquired by Sands Capital Management LLC

Sands Capital Management LLC lifted its position in shares of Carvana Co. (NYSE:CVNA) by 44.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,442,534 shares of the company’s stock after buying an additional 751,019 shares during the period. Carvana makes up approximately 3.1% of Sands Capital Management LLC’s portfolio, making the stock its 8th largest position. Sands Capital Management LLC owned about 1.12% of Carvana worth $1,030,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVNA. Vanguard Group Inc. increased its holdings in shares of Carvana by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after buying an additional 3,328,115 shares during the last quarter. State Street Corp increased its holdings in shares of Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after buying an additional 2,764,759 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after buying an additional 1,711,144 shares during the last quarter. Geode Capital Management LLC increased its holdings in Carvana by 55.4% in the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares during the last quarter. Finally, Viking Global Investors LP increased its holdings in Carvana by 94.9% in the 3rd quarter. Viking Global Investors LP now owns 2,101,241 shares of the company’s stock valued at $792,672,000 after purchasing an additional 1,023,265 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of CVNA stock opened at $64.09 on Monday. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The stock has a market capitalization of $70.30 billion, a PE ratio of 38.98, a P/E/G ratio of 10.82 and a beta of 3.45. The firm has a 50 day moving average of $71.20 and a two-hundred day moving average of $75.23.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. On average, research analysts predict that Carvana Co. will post 1.58 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $61.97, for a total value of $3,098,600.00. Following the completion of the transaction, the chief operating officer owned 464,620 shares of the company’s stock, valued at $28,793,430.64. This trade represents a 9.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director J Danforth Quayle sold 14,525 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the completion of the transaction, the director directly owned 214,960 shares of the company’s stock, valued at $15,047,200. This represents a 6.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 400,812 shares of company stock worth $28,039,446. 15.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on CVNA shares. Bank of America lifted their target price on shares of Carvana from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 target price on shares of Carvana in a report on Friday, June 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $92.00 target price on shares of Carvana in a report on Friday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $107.40 target price on shares of Carvana in a report on Thursday, April 30th. Finally, BTIG Research reiterated a “buy” rating and issued a $97.00 target price on shares of Carvana in a report on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.14.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.