Oak Thistle LLC Acquires 1,738 Shares of Carvana Co. (NYSE:CVNA)

Oak Thistle LLC grew its holdings in shares of Carvana Co. (NYSE:CVNA) by 115.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,238 shares of the company’s stock after acquiring an additional 1,738 shares during the quarter. Oak Thistle LLC’s holdings in Carvana were worth $658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sugarloaf Wealth Management LLC bought a new position in shares of Carvana in the 3rd quarter worth $32,000. ORG Wealth Partners LLC bought a new position in Carvana in the fourth quarter valued at $34,000. Capital Performance Advisors LLP purchased a new stake in Carvana during the third quarter valued at about $40,000. Versant Capital Management Inc bought a new stake in Carvana during the fourth quarter worth about $42,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $190.79, for a total value of $19,079,000.00. Following the sale, the insider now owns 37,658,131 shares in the company, valued at $7,184,794,813.49. This represents a 0.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction on 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 transaction, the chief financial officer now owns 90,732 shares of the company’s stock, valued at $20,362,982.76. The trade was a 69.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 751,908 shares of company stock valued at $161,216,285. 17.12% of the stock is currently owned by company insiders.

Carvana Price Performance

CVNA stock opened at $213.16 on Thursday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. Carvana Co. has a 1 year low of $40.21 and a 1 year high of $268.34. The firm has a 50-day moving average of $232.76 and a 200 day moving average of $184.99. The company has a market cap of $44.26 billion, a P/E ratio of 21,337.34 and a beta of 3.32.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the company posted $0.23 EPS. The firm’s revenue was up 31.8% on a year-over-year basis. On average, sell-side analysts forecast that Carvana Co. will post 0.76 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on CVNA. Robert W. Baird boosted their target price on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stephens reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research note on Thursday, January 2nd. Wedbush lifted their target price on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Citigroup raised shares of Carvana from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $195.00 to $277.00 in a research note on Wednesday, January 8th. Finally, Bank of America raised their price objective on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and ten have issued 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 $241.94.

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.