Versor Investments LP Invests $4.65 Million in Carvana Co. (NYSE:CVNA)

Versor Investments LP acquired a new stake in shares of Carvana Co. (NYSE:CVNA) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 22,848 shares of the company’s stock, valued at approximately $4,646,000. Carvana comprises about 0.8% of Versor Investments LP’s investment portfolio, making the stock its 12th biggest holding.

A number of other institutional investors also recently bought and sold shares of CVNA. FMR LLC lifted its position in shares of Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying 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 valued at approximately $162,953,000. Lord Abbett & CO. LLC raised its position in shares of Carvana by 1,454.1% during the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after buying an additional 503,824 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Carvana in the third quarter worth $50,531,000. Finally, Holocene Advisors LP boosted its position in shares of Carvana by 108.2% during the third quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock worth $96,476,000 after acquiring an additional 287,983 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CVNA shares. JPMorgan Chase & Co. increased their price objective on shares of Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Evercore ISI upped their price objective on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. DA Davidson raised their target price on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Piper Sandler upped their price target on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $265.06.

Carvana Price Performance

Shares of CVNA opened at $232.08 on Thursday. The company’s fifty day moving average price is $232.88 and its 200-day moving average price is $210.17. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The firm has a market capitalization of $48.19 billion, a PE ratio of 147.82 and a beta of 3.37. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. On average, equities research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares of the company’s stock, valued at $48,402,338.27. This trade represents a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,629 shares of company stock worth $44,833,799. Corporate insiders own 17.18% of the company’s stock.

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.