Cibc World Markets Corp Invests $1.05 Million in Carvana Co. (NYSE:CVNA)

Cibc World Markets Corp bought a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,156 shares of the company's stock, valued at approximately $1,049,000.

A number of other hedge funds have also recently modified their holdings of the business. FMR LLC grew its position in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company's stock valued at $2,152,311,000 after acquiring an additional 5,882,656 shares during the last quarter. Lingotto Investment Management LLP grew its holdings in shares of Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after purchasing an additional 57,215 shares during the last quarter. State Street Corp increased its stake in Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company's stock worth $326,893,000 after buying an additional 107,610 shares during the period. Geode Capital Management LLC lifted its holdings in Carvana by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company's stock valued at $315,133,000 after buying an additional 131,059 shares in the last quarter. Finally, Whale Rock Capital Management LLC purchased a new stake in Carvana in the 3rd quarter valued at about $162,953,000. Institutional investors own 56.71% of the company's stock.

Carvana Stock Down 7.5 %

Shares of Carvana stock traded down $16.54 during trading on Wednesday, reaching $205.12. The company's stock had a trading volume of 4,361,745 shares, compared to its average volume of 3,874,862. The company has a 50-day simple moving average of $228.48 and a two-hundred day simple moving average of $216.58. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The company has a market cap of $43.72 billion, a price-to-earnings ratio of 130.65 and a beta of 3.56. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

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Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly 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. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now owns 196,278 shares in the company, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares of the company's stock, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,784 shares of company stock worth $27,524,344. 17.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on CVNA shares. DA Davidson lifted their price target on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Robert W. Baird lifted their target price on Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. William Blair reissued an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Citigroup raised their price target on Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada upped their price objective on shares of Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $263.88.

Carvana Company 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.