CTC Alternative Strategies Ltd. Takes $505,000 Position in Carvana Co. $CVNA

CTC Alternative Strategies Ltd. bought a new stake in Carvana Co. (NYSE:CVNA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,680 shares of the company’s stock, valued at approximately $505,000. Carvana makes up about 0.7% of CTC Alternative Strategies Ltd.’s investment portfolio, making the stock its 29th biggest holding.

Several other large investors also recently bought and sold shares of CVNA. Sands Capital Management LLC lifted its position in Carvana by 44.4% in the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock worth $1,030,798,000 after buying an additional 751,019 shares during the last quarter. Capricorn Fund Managers Ltd bought a new position in Carvana during the first quarter valued at $29,866,000. Gavilan Investment Partners LLC raised its stake in shares of Carvana by 24.6% in the fourth quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company’s stock valued at $36,294,000 after acquiring an additional 17,000 shares during the period. Swiss National Bank lifted its holdings in shares of Carvana by 9.9% in the 1st quarter. Swiss National Bank now owns 395,180 shares of the company’s stock worth $124,237,000 after acquiring an additional 35,720 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Carvana by 239.6% in the 4th quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock worth $93,748,000 after acquiring an additional 156,430 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total value of $3,225,000.00. Following the completion of the sale, the chief operating officer owned 535,709 shares of the company’s stock, valued at approximately $34,553,230.50. This represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $4,111,875.00. Following the transaction, the chief financial officer owned 1,156,534 shares in the company, valued at approximately $74,596,443. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 302,147 shares of company stock worth $20,418,064. Insiders own 15.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVNA shares. Hovde Group upped their price target on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. Royal Bank Of Canada set a $82.00 target price on Carvana and gave the company an “outperform” rating in a research note on Thursday, July 30th. BTIG Research restated a “buy” rating and set a $87.00 price objective on shares of Carvana in a report on Tuesday, August 18th. Robert W. Baird set a $72.00 target price on Carvana in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $80.00 target price on shares of Carvana in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Carvana Stock Up 0.3%

Shares of NYSE:CVNA opened at $74.24 on Monday. The business’s 50 day moving average is $68.10 and its 200 day moving average is $68.34. The stock has a market cap of $81.70 billion, a P/E ratio of 41.06, a price-to-earnings-growth ratio of 2.69 and a beta of 3.46. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The business had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the company posted $1.51 EPS. Carvana’s revenue was up 52.4% on a year-over-year basis. Sell-side analysts predict that Carvana Co. will post 1.68 EPS for the current year.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.