Banco BTG Pactual S.A. Invests $332,000 in Carvana Co. (NYSE:CVNA)

Banco BTG Pactual S.A. bought a new stake in shares of Carvana Co. (NYSE:CVNA) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,665 shares of the company’s stock, valued at approximately $332,000.

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its holdings 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 acquiring an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in Carvana during the 3rd quarter worth approximately $162,953,000. Vanguard Group Inc. increased its stake in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock worth $93,754,000 after buying an additional 503,824 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Carvana during the fourth quarter worth $60,866,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the sale, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now owns 196,278 shares in the company, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,377 shares of company stock worth $44,251,096. 17.12% of the stock is owned by corporate insiders.

Carvana Stock Down 7.5 %

Shares of NYSE CVNA opened at $205.12 on Thursday. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company’s 50-day simple moving average is $228.32 and its 200-day simple moving average is $216.50. The firm has a market cap of $43.72 billion, a price-to-earnings ratio of 130.65 and a beta of 3.56.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVNA. Bank of America reduced their target price on Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. JPMorgan Chase & Co. lifted their target price on Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Morgan Stanley upgraded shares of Carvana from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $260.00 to $280.00 in a report on Tuesday. Robert W. Baird upped their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $340.00 price objective on shares of Carvana in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus price target of $263.88.

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.