Ardmore Road Asset Management LP Takes $20.34 Million Position in Carvana Co. (NYSE:CVNA)

Ardmore Road Asset Management LP bought a new stake in Carvana Co. (NYSE:CVNA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 100,000 shares of the company’s stock, valued at approximately $20,336,000. Carvana comprises about 3.0% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 11th largest position.

A number of other institutional investors have also modified their holdings of CVNA. Geode Capital Management LLC lifted its position in shares of Carvana by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after buying an additional 75,250 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Carvana by 4,087.6% during the 4th quarter. National Bank of Canada FI now owns 59,506 shares of the company’s stock worth $12,101,000 after buying an additional 58,085 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Carvana by 306.6% in the fourth quarter. Franklin Resources Inc. now owns 201,320 shares of the company’s stock valued at $40,940,000 after acquiring an additional 151,806 shares during the period. B. Metzler seel. Sohn & Co. AG acquired a new position in Carvana during the fourth quarter worth about $897,000. Finally, Wellington Management Group LLP increased its stake in Carvana by 4.1% in the 4th quarter. Wellington Management Group LLP now owns 36,215 shares of the company’s stock valued at $7,365,000 after purchasing an additional 1,430 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Carvana

In related news, insider Thomas Taira sold 27,593 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the transaction, the insider now owns 179,673 shares of the company’s stock, valued at $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the sale, the chief operating officer now owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,377 shares of company stock valued at $44,251,096 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Carvana Stock Up 1.4 %

NYSE CVNA opened at $212.05 on Wednesday. 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 Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The stock has a market capitalization of $45.20 billion, a PE ratio of 135.06 and a beta of 3.56. The business has a fifty day moving average price of $226.42 and a two-hundred day moving average price of $219.06.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Citigroup increased their price objective on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Wedbush set a $250.00 price objective on Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Stephens restated an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $261.53.

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.