Allspring Global Investments Holdings LLC increased its position in Carvana Co. (NYSE:CVNA - Free Report) by 2,384.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,701 shares of the company's stock after acquiring an additional 75,533 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Carvana were worth $15,706,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of CVNA. Quent Capital LLC bought a new stake in shares of Carvana during the 4th quarter valued at $28,000. ORG Wealth Partners LLC purchased a new stake in shares of Carvana during the 4th quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new stake in Carvana in the 3rd quarter worth approximately $40,000. Versant Capital Management Inc purchased a new stake in Carvana in the 4th quarter worth approximately $42,000. Finally, First Horizon Advisors Inc. increased its holdings in Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company's stock worth $44,000 after acquiring an additional 196 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
CVNA has been the subject of a number of research reports. Robert W. Baird increased their target price on Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday. Piper Sandler increased their price target on Carvana from $151.00 to $225.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. JMP Securities reiterated a "market outperform" rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Morgan Stanley raised Carvana from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Finally, Evercore ISI raised their price target on Carvana from $240.00 to $245.00 and gave the stock an "in-line" rating in a report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $259.00.
Read Our Latest Stock Report on CVNA
Insider Transactions at Carvana
In other news, CFO Mark W. Jenkins sold 28,422 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares of the company's stock, valued at $63,536,023.70. The trade was a 11.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of the company'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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock valued at $44,833,799 over the last three months. 17.12% of the stock is currently owned by insiders.
Carvana Price Performance
Shares of Carvana stock traded down $33.79 during trading on Thursday, reaching $248.03. The company's stock had a trading volume of 13,136,619 shares, compared to its average volume of 3,995,622. The business has a 50 day moving average price of $234.84 and a 200-day moving average price of $206.90. The company has a market capitalization of $51.50 billion, a P/E ratio of 24,827.83 and a beta of 3.37. Carvana Co. has a 12-month low of $48.15 and a 12-month high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.
Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, sell-side analysts anticipate that Carvana Co. will post 0.87 EPS for the current year.
Carvana Company 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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