Sylebra Capital LLC Buys New Shares in Carvana Co. (NYSE:CVNA)

Sylebra Capital LLC acquired a new position in Carvana Co. (NYSE:CVNA) in the second quarter, Holdings Channel.com reports. The firm acquired 525,839 shares of the company’s stock, valued at approximately $67,686,000. Carvana accounts for approximately 2.5% of Sylebra Capital LLC’s investment portfolio, making the stock its 10th biggest position.

Several other institutional investors have also recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD raised its position in Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after purchasing an additional 2,112,463 shares during the period. Vanguard Group Inc. grew its stake in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after buying an additional 323,153 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Carvana in the 2nd quarter valued at about $39,997,000. Finally, First Trust Advisors LP boosted its holdings in Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after acquiring an additional 216,893 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company raised Carvana from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $77.00 to $175.00 in a research note on Thursday, August 1st. Bank of America reissued a “buy” rating and issued a $185.00 price target on shares of Carvana in a research note on Tuesday, September 17th. Stephens initiated coverage on Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective on the stock. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of Carvana in a research note on Monday, September 9th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $178.00 price target on shares of Carvana in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $155.12.

Carvana Price Performance

NYSE CVNA opened at $169.78 on Monday. The business’s fifty day moving average is $146.68 and its 200 day moving average is $118.84. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $176.33. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The company has a market capitalization of $34.39 billion, a PE ratio of 74.46 and a beta of 3.43.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Sell-side analysts predict that Carvana Co. will post 0.27 earnings per share for the current year.

Insider Activity

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the completion of the transaction, the insider now owns 690,814 shares of the company’s stock, valued at approximately $102,710,225.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the transaction, the insider now owns 359,370 shares in the company, valued at $53,905,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the transaction, the insider now owns 690,814 shares in the company, valued at $102,710,225.52. The disclosure for this sale can be found here. Insiders have sold a total of 2,486,866 shares of company stock worth $357,967,534 over the last quarter. Insiders own 17.12% of the company’s stock.

Carvana 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.