BlackRock acquired 288M Carvana shares worth $19.1B. That's 0.29% of their equity portfolio (53rd largest holding). The investor owns 24.12% of the outstanding Carvana stock. The first Carvana trade was made in Q4 2020. Since then BlackRock bought shares twelve more times and sold shares on five occasions. The stake costed the investor $10.2B, netting the investor a gain of 87% so far.
Carvana has seen growth and profitability slow, making its premium valuation hard to justify after recent earnings. Q4 Adjusted EBITDA margin dropped to 9.1%...
Carvana Co (NYSE: CVNA) reported upbeat sales for the fourth quarter after the market close on Wednesday.
Wedbush Securities maintained its 'outperform' rating on Carvana Co. (NYSE:CVNA) but cut its 12-month price target to $425 from $500 following below-par four...
Carvana reports Q4 revenue of $5.6B but faces pressure from mounting expenses and Gotham City Research allegations.