Asset Management One Co. Ltd. bought a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 39,439 shares of the company's stock, valued at approximately $8,483,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of CVNA. Allspring Global Investments Holdings LLC boosted its position in Carvana by 2,384.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 78,701 shares of the company's stock worth $15,706,000 after purchasing an additional 75,533 shares during the period. Quent Capital LLC acquired a new position in Carvana in the 4th quarter valued at about $28,000. Cigna Investments Inc. New bought a new position in Carvana in the 4th quarter valued at about $223,000. Empowered Funds LLC lifted its position in Carvana by 3.6% during the fourth quarter. Empowered Funds LLC now owns 2,936 shares of the company's stock worth $597,000 after acquiring an additional 101 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of Carvana by 133.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,222 shares of the company's stock worth $655,000 after acquiring an additional 1,839 shares during the period. Institutional investors own 56.71% of the company's stock.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, January 6th. JMP Securities reissued a "market outperform" rating and issued a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Piper Sandler raised their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Stephens reiterated an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Finally, William Blair restated an "outperform" rating on shares of Carvana in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Carvana has a consensus rating of "Moderate Buy" and an average price target of $265.06.
View Our Latest Research Report on CVNA
Carvana Price Performance
Shares of Carvana stock traded down $24.58 during midday trading on Friday, hitting $223.14. 6,856,676 shares of the company traded hands, compared to its average volume of 4,083,558. The firm's fifty day moving average price is $234.35 and its 200-day moving average price is $207.79. The stock has a market cap of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37. Carvana Co. has a 12 month low of $49.38 and a 12 month high of $292.84. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.
Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 446.67%. The firm had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.32 billion. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Daniel J. Gill sold 44,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the sale, the insider now owns 191,225 shares of the company's stock, valued at $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now directly owns 153,240 shares of the company's stock, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 173,629 shares of company stock worth $44,833,799 in the last 90 days. Insiders own 17.12% of the company's stock.
Carvana Profile
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Free Report)
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.
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