Raleigh Capital Management Inc. Purchases 309 Shares of Carvana Co. (NYSE:CVNA)

Raleigh Capital Management Inc. boosted its position in Carvana Co. (NYSE:CVNA) by 1,471.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 330 shares of the company’s stock after acquiring an additional 309 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Carvana were worth $67,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. State Street Corp boosted its stake in Carvana by 6.1% in the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock valued at $326,893,000 after buying an additional 107,610 shares in the last quarter. Geode Capital Management LLC grew its position in Carvana by 7.8% in the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock valued at $315,133,000 after acquiring an additional 131,059 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in Carvana during the third quarter worth about $162,953,000. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after acquiring an additional 323,153 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

CVNA stock opened at $243.32 on Friday. The firm has a market cap of $50.52 billion, a PE ratio of 24,356.06 and a beta of 3.38. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a 50-day moving average price of $231.02 and a 200-day moving average price of $189.22. Carvana Co. has a 1-year low of $40.21 and a 1-year high of $268.34.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. Carvana’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. As a group, equities research analysts expect that Carvana Co. will post 0.88 earnings per share for the current year.

Insider Activity at Carvana

In related news, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now directly owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan S. Keeton sold 24,845 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the sale, the insider now directly owns 151,029 shares of the company’s stock, valued at $37,440,089.10. This trade represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 380,383 shares of company stock worth $88,981,508 in the last quarter. Company insiders own 17.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVNA shares. Royal Bank of Canada upgraded shares of Carvana from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $270.00 to $280.00 in a research report on Tuesday, January 7th. Piper Sandler raised their price objective on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Bank of America upped their target price on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird increased their target price on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.94.

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.