SG Americas Securities LLC Buys New Shares in Carvana Co. (NYSE:CVNA)

SG Americas Securities LLC acquired a new stake in Carvana Co. (NYSE:CVNA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,208 shares of the company’s stock, valued at approximately $117,000.

A number of other hedge funds also recently made changes to their positions in CVNA. Morgan Stanley raised its stake in shares of Carvana by 65.1% in the 4th quarter. Morgan Stanley now owns 14,083,153 shares of the company’s stock valued at $66,754,000 after buying an additional 5,554,691 shares in the last quarter. Spruce House Investment Management LLC raised its stake in shares of Carvana by 52.7% in the 4th quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after buying an additional 3,450,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Carvana in the 4th quarter valued at $14,102,000. FMR LLC raised its stake in shares of Carvana by 143.7% in the 1st quarter. FMR LLC now owns 4,667,263 shares of the company’s stock valued at $45,693,000 after buying an additional 2,752,097 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Carvana by 46.8% in the 1st quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock valued at $870,511,000 after buying an additional 2,325,545 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 9,296 shares of Carvana stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total transaction of $770,824.32. Following the transaction, the chief operating officer now owns 178,885 shares of the company’s stock, valued at approximately $14,833,144.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the transaction, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Benjamin E. Huston sold 9,296 shares of Carvana stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $82.92, for a total transaction of $770,824.32. Following the transaction, the chief operating officer now directly owns 178,885 shares in the company, valued at approximately $14,833,144.20. The disclosure for this sale can be found here. Insiders sold a total of 187,883 shares of company stock worth $15,505,178 in the last quarter. 17.12% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CVNA shares. Wedbush increased their price objective on shares of Carvana from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. upped their target price on shares of Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 target price on shares of Carvana in a report on Wednesday. Finally, Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and upped their target price for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $52.53.

Carvana Price Performance

Shares of NYSE:CVNA opened at $71.10 on Friday. Carvana Co. has a one year low of $6.70 and a one year high of $94.04. The company has a 50 day moving average of $74.84 and a 200-day moving average of $52.12. The stock has a market cap of $14.36 billion, a price-to-earnings ratio of 131.67 and a beta of 3.32.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company posted ($0.97) EPS. Carvana’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities research analysts anticipate that Carvana Co. will post -3.4 earnings per share for the current year.

Carvana Company 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.