Lingotto Investment Management LLP Purchases 57,215 Shares of Carvana Co. (NYSE:CVNA)

Lingotto Investment Management LLP raised its holdings in shares of Carvana Co. (NYSE:CVNA) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,987,150 shares of the company’s stock after acquiring an additional 57,215 shares during the quarter. Carvana makes up approximately 21.8% of Lingotto Investment Management LLP’s holdings, making the stock its biggest position. Lingotto Investment Management LLP owned approximately 1.92% of Carvana worth $810,827,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC boosted its position in 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 purchasing an additional 78 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Carvana during the 4th quarter worth approximately $34,000. Versant Capital Management Inc bought a new stake in shares of Carvana during the 4th quarter worth approximately $42,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Carvana by 79.2% in the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock valued at $46,000 after buying an additional 99 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

Carvana stock opened at $221.08 on Wednesday. The business has a 50 day moving average of $232.90 and a 200-day moving average of $210.02. The company has a market capitalization of $45.90 billion, a P/E ratio of 140.81 and a beta of 3.37. Carvana Co. has a 1 year low of $66.97 and a 1 year high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion during 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%. On average, equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the transaction, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now directly owns 191,225 shares in the company, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock valued at $44,833,799 in the last three months. Insiders own 17.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Bank of America raised their price target on shares of Carvana from $252.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Robert W. Baird raised their price target on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Stephens reiterated an “overweight” rating and set a $300.00 price target on shares of Carvana in a research report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $265.06.

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.