Headlands Technologies LLC Has $1.66 Million Stock Position in Carvana Co. (NYSE:CVNA)

Headlands Technologies LLC reduced its holdings in Carvana Co. (NYSE:CVNA) by 66.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,164 shares of the company’s stock after selling 16,258 shares during the period. Headlands Technologies LLC’s holdings in Carvana were worth $1,660,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised 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 during the last quarter. Lingotto Investment Management LLP raised its position in shares of Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock valued at $810,827,000 after buying an additional 57,215 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock valued at $381,592,000 after buying an additional 75,250 shares during the period. State Street Corp grew its position in Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after buying an additional 107,610 shares in the last quarter. Finally, Whale Rock Capital Management LLC acquired a new position in Carvana in the 3rd quarter valued at approximately $162,953,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.35, for a total value of $10,517,500.00. Following the transaction, the chief operating officer now directly owns 146,278 shares in the company, valued at $30,769,577.30. This represents a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $63,536,023.70. The trade was a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,377 shares of company stock worth $44,251,096 over the last 90 days. 17.12% of the stock is owned by insiders.

Carvana Stock Up 1.4 %

Shares of NYSE CVNA opened at $212.05 on Wednesday. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The firm’s 50-day simple moving average is $226.42 and its 200 day simple moving average is $219.06. 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 has a market cap of $45.20 billion, a price-to-earnings ratio of 135.06 and a beta of 3.56.

Carvana (NYSE:CVNA) last announced its 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 company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the topic of several recent research reports. DA Davidson lifted their price objective on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Bank of America lowered their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Piper Sandler raised shares of Carvana from a “neutral” rating to an “overweight” rating in a report on Monday. Evercore ISI lowered their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. Finally, Stephens restated an “overweight” rating and set a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.53.

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.