Healthcare of Ontario Pension Plan Trust Fund Boosts Position in Carvana Co. (NYSE:CVNA)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Carvana Co. (NYSE:CVNA) by 4.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 306,148 shares of the company’s stock after buying an additional 13,048 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.15% of Carvana worth $53,303,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Carvana by 90.8% during the third 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 period. Lingotto Investment Management LLP raised its stake in shares of Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after purchasing an additional 52,833 shares during the period. Renaissance Technologies LLC raised its stake in shares of Carvana by 12.2% during the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after purchasing an additional 88,500 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares during the period. Finally, Sylebra Capital LLC purchased a new stake in shares of Carvana during the second quarter valued at approximately $67,686,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of CVNA opened at $254.84 on Thursday. Carvana Co. has a 1 year low of $29.84 and a 1 year high of $268.34. The company has a market cap of $52.91 billion, a price-to-earnings ratio of 25,484.00 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The firm has a fifty day moving average of $208.11 and a 200-day moving average of $156.73.

Carvana (NYSE:CVNA) last announced 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 firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the firm posted $0.23 EPS. The business’s revenue was up 31.8% compared to the same quarter last year. As a group, equities analysts anticipate that Carvana Co. will post 0.76 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 208,495 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the sale, the chief financial officer now directly owns 90,732 shares in the company, valued at approximately $20,362,982.76. The trade was a 69.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the sale, the chief operating officer now owns 218,686 shares in the company, valued at approximately $52,484,640. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,218,063 shares of company stock worth $404,865,579 over the last ninety days. 17.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and raised their price target for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Needham & Company LLC raised their price target on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Citigroup raised their price target on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $217.71.

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.