Aviva PLC Takes $304,000 Position in Carvana Co. (NYSE:CVNA)

Aviva PLC bought a new position in Carvana Co. (NYSE:CVNA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,494 shares of the company's stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVNA. Vanguard Group Inc. lifted its stake in Carvana by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after acquiring an additional 610,234 shares during the period. Lingotto Investment Management LLP boosted its stake in shares of Carvana by 1.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after purchasing an additional 57,215 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after buying an additional 75,250 shares during the period. Norges Bank bought a new position in Carvana in the fourth quarter worth about $179,364,000. Finally, Lord Abbett & CO. LLC lifted its holdings in Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company's stock worth $93,754,000 after buying an additional 503,824 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVNA has been the topic of several research reports. Piper Sandler upgraded Carvana from a "neutral" rating to an "overweight" rating in a research report on Monday, March 31st. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price target on shares of Carvana in a research note on Friday, March 7th. Royal Bank of Canada boosted 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. JMP Securities decreased their target price on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Evercore ISI cut their price target on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $253.59.

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Insider Activity

In other news, insider Thomas Taira sold 27,593 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the transaction, the insider now owns 179,673 shares of the company's stock, valued at $40,431,815.19. This trade represents a 13.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total value of $2,501,200.00. Following the transaction, the chief financial officer now owns 219,962 shares of the company's stock, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 330,810 shares of company stock valued at $69,243,820 in the last quarter. 17.12% of the stock is currently owned by insiders.

Carvana Stock Performance

Shares of CVNA traded up $9.20 during mid-day trading on Tuesday, hitting $213.93. 5,198,568 shares of the company traded hands, compared to its average volume of 4,080,603. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The stock has a market cap of $45.60 billion, a price-to-earnings ratio of 136.26 and a beta of 3.61. The stock has a 50-day moving average price of $215.18 and a two-hundred day moving average price of $220.82.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. The company 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%. Equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

About Carvana

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.