Ardmore Road Asset Management LP Acquires Shares of 100,000 Carvana Co. (NYSE:CVNA)

Ardmore Road Asset Management LP acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 100,000 shares of the company’s stock, valued at approximately $20,336,000. Carvana makes up approximately 3.0% of Ardmore Road Asset Management LP’s portfolio, making the stock its 11th biggest holding.

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

Insider Buying and Selling at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now directly owns 153,240 shares of the company’s stock, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the transaction, the chief financial officer now owns 219,962 shares in the company, valued at approximately $55,016,895.44. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,377 shares of company stock worth $44,251,096. 17.12% of the stock is currently owned by company insiders.

Carvana Price Performance

Carvana stock opened at $212.05 on Wednesday. The firm has a 50 day moving average price of $226.42 and a 200 day moving average price of $219.06. The company has a market cap of $45.20 billion, a price-to-earnings ratio of 135.06 and a beta of 3.56. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

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 analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CVNA shares. Citigroup upped their target price on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday, February 21st. Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Wells Fargo & Company lowered their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada boosted their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $340.00 target price on shares of Carvana in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus price target of $261.53.

Carvana 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.