Fintel reports that Goldman Sachs Group has filed a 13G form with the SEC disclosing ownership of 8.81MM shares of Carvana Co (CVNA). This represents 8.3% of the company.
In their previous filing dated January 30, 2020 they reported 2.66MM shares and 5.30% of the company, an increase in shares of 230.84% and an increase in total ownership of 3.00% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 8.65% Downside
As of February 6, 2023, the average one-year price target for Carvana is $12.27. The forecasts range from a low of $1.01 to a high of $47.25. The average price target represents a decrease of 8.65% from its latest reported closing price of $13.43.
The projected annual revenue for Carvana is $14,551MM, an increase of 0.21%. The projected annual EPS is $-7.50.
Fund Sentiment
There are 591 funds or institutions reporting positions in Carvana. This is a decrease of 76 owner(s) or 11.39%.
Average portfolio weight of all funds dedicated to US:CVNA is 0.4093%, an increase of 11.3388%. Total shares owned by institutions increased in the last three months by 0.49% to 136,330K shares.
What are large shareholders doing?
Price T Rowe Associates holds 19,613,733 shares representing 18.51% ownership of the company. In it's prior filing, the firm reported owning 20,100,843 shares, representing a decrease of 2.48%. The firm increased its portfolio allocation in CVNA by 14.02% over the last quarter.
Baillie Gifford & holds 14,168,781 shares representing 13.37% ownership of the company. In it's prior filing, the firm reported owning 14,144,058 shares, representing an increase of 0.17%. The firm decreased its portfolio allocation in CVNA by 76.36% over the last quarter.
CAS Investment Partners holds 6,827,803 shares representing 6.44% ownership of the company. In it's prior filing, the firm reported owning 6,727,803 shares, representing an increase of 1.46%. The firm increased its portfolio allocation in CVNA by 9.85% over the last quarter.
Spruce House Investment Management holds 6,550,000 shares representing 6.18% ownership of the company. In it's prior filing, the firm reported owning 6,150,000 shares, representing an increase of 6.11%. The firm increased its portfolio allocation in CVNA by 19.58% over the last quarter.
Capital World Investors holds 5,318,506 shares representing 5.02% ownership of the company. In it's prior filing, the firm reported owning 1,616,536 shares, representing an increase of 69.61%. The firm increased its portfolio allocation in CVNA by 212.60% over the last quarter.
Carvana Background Information
(This description is provided by the company.)
Founded in 2012 and based in Phoenix, Carvana's mission is to change the way people buy cars. By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online car buying and financing platform. Carvana.com enables consumers to quickly and easily shop more than 20,000 vehicles, finance, trade-in or sell their current vehicle to Carvana, sign contracts, and schedule as-soon-as-next-day delivery or pickup at one of Carvana's patented, automated Car Vending Machines.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
