Allstate Corp Invests $677,000 in Carvana Co. (NYSE:CVNA)

Allstate Corp purchased a new position in Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,329 shares of the company's stock, valued at approximately $677,000.

Other hedge funds also recently bought and sold shares of the company. Fidelis Capital Partners LLC increased its holdings in shares of Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock worth $313,000 after purchasing an additional 51 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock valued at $483,000 after buying an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Carvana by 21.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after buying an additional 74 shares in the last quarter. Great Lakes Advisors LLC raised its position in Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock worth $752,000 after buying an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after acquiring an additional 78 shares during the period. Institutional investors own 56.71% of the company's stock.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares of the company's stock, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 43,433 shares of Carvana stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the completion of the sale, the chief financial officer now directly owns 214,678 shares in the company, valued at $44,925,665.06. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 280,810 shares of company stock valued at $61,698,820 in the last three months. 17.12% of the stock is currently owned by corporate insiders.

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Carvana Price Performance

Shares of CVNA traded down $19.25 during trading hours on Friday, reaching $162.54. 11,050,385 shares of the stock traded hands, compared to its average volume of 3,996,697. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market cap of $34.65 billion, a P/E ratio of 103.53 and a beta of 3.61. The company's 50-day moving average price is $223.47 and its two-hundred day moving average price is $219.36.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $3.55 billion during 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%. On average, analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on CVNA shares. DA Davidson boosted their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. William Blair reiterated an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Citigroup increased their price target on Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. Finally, Royal Bank of Canada increased their target price on Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $258.59.

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.