Alberta Investment Management Corp Buys Shares of 17,300 Carvana Co. (NYSE:CVNA)

Alberta Investment Management Corp acquired a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,300 shares of the company's stock, valued at approximately $3,518,000.

Several other institutional investors also recently bought and sold shares of the business. FMR LLC boosted its holdings in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company's stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. State Street Corp lifted its position in shares of Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company's stock worth $326,893,000 after purchasing an additional 107,610 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Carvana by 7.8% in the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company's stock valued at $315,133,000 after purchasing an additional 131,059 shares during the period. Whale Rock Capital Management LLC acquired a new stake in Carvana during the 3rd quarter valued at $162,953,000. Finally, Holocene Advisors LP grew its holdings in Carvana by 108.2% during the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company's stock valued at $96,476,000 after purchasing an additional 287,983 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of NYSE CVNA traded down $24.58 during mid-day trading on Friday, hitting $223.14. The company had a trading volume of 6,856,676 shares, compared to its average volume of 4,083,558. Carvana Co. has a 12 month low of $49.38 and a 12 month high of $292.84. The stock has a market cap of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm's 50 day simple moving average is $234.85 and its two-hundred day simple moving average is $207.18.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a return on equity of 446.67% and a net margin of 1.54%. As a group, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $275.68, for a total value of $5,513,600.00. Following the completion of the transaction, the chief financial officer now owns 199,962 shares of the company's stock, valued at approximately $55,125,524.16. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of Carvana 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 transaction, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,629 shares of company stock valued at $44,833,799. Corporate insiders own 17.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a research report on Thursday. Evercore ISI increased their price target on Carvana from $240.00 to $245.00 and gave the company an "in-line" rating in a report on Tuesday, December 3rd. Bank of America raised their price objective on Carvana from $252.00 to $270.00 and gave the company a "buy" rating in a research note on Friday. Stephens reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Carvana in a research report on Thursday, February 6th. Finally, William Blair reissued 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $265.06.

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.