Fulcrum Asset Management LLP Makes New Investment in Carvana Co. $CVNA

Fulcrum Asset Management LLP bought a new position in shares of Carvana Co. (NYSE:CVNA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,667 shares of the company’s stock, valued at approximately $552,000.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVNA. BTIG Research restated a “buy” rating and set a $87.00 price target on shares of Carvana in a report on Tuesday, August 18th. Jefferies Financial Group dropped their price target on shares of Carvana from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Zacks Research downgraded shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Citigroup reduced their price objective on shares of Carvana from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the stock an “outperform” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $84.14.

Carvana Stock Up 0.2%

CVNA stock opened at $74.24 on Friday. The stock has a market capitalization of $81.70 billion, a P/E ratio of 41.06, a P/E/G ratio of 2.69 and a beta of 3.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The business has a fifty day moving average price of $68.10 and a 200-day moving average price of $68.34.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the company earned $1.51 EPS. Carvana’s revenue for the quarter was up 52.4% on a year-over-year basis. Equities analysts forecast that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $68.55, for a total transaction of $3,427,500.00. Following the sale, the chief operating officer owned 458,755 shares of the company’s stock, valued at $31,447,655.25. This trade represents a 9.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the sale, the director owned 186,470 shares of the company’s stock, valued at $12,648,260.10. This represents a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 420,897 shares of company stock worth $28,777,664. 15.19% of the stock is owned by company insiders.

Carvana 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.