American Century Companies Inc. Decreases Position in Carvana Co. (NYSE:CVNA)

American Century Companies Inc. cut its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,102 shares of the company's stock after selling 4,447 shares during the period. American Century Companies Inc.'s holdings in Carvana were worth $5,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC lifted its position in Carvana by 112.8% during the third quarter. Cerity Partners LLC now owns 4,215 shares of the company's stock valued at $734,000 after purchasing an additional 2,234 shares in the last quarter. Townsquare Capital LLC bought a new position in shares of Carvana in the third quarter worth about $282,000. Rockefeller Capital Management L.P. purchased a new position in shares of Carvana during the 3rd quarter valued at about $1,772,000. Captrust Financial Advisors bought a new position in shares of Carvana during the 3rd quarter valued at approximately $270,000. Finally, Centiva Capital LP purchased a new stake in Carvana in the 3rd quarter worth approximately $555,000. 56.71% of the stock is owned by institutional investors.

Carvana Trading Up 24.5 %

Shares of NYSE:CVNA traded up $43.28 during trading on Wednesday, reaching $219.60. The company's stock had a trading volume of 10,804,999 shares, compared to its average volume of 4,073,783. The firm's 50 day simple moving average is $218.19 and its two-hundred day simple moving average is $219.77. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. The stock has a market capitalization of $46.81 billion, a PE ratio of 139.87 and a beta of 3.61.

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Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities dropped their price target on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research report on Wednesday. Royal Bank of Canada upped their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Citigroup decreased their price target on Carvana from $320.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday. DA Davidson upped their price objective on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Finally, Robert W. Baird decreased their target price on Carvana from $250.00 to $200.00 and set a "neutral" rating on the stock in a research note on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $253.59.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 28,422 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the sale, the chief financial officer now owns 219,962 shares of the company's stock, valued at approximately $63,536,023.70. This represents a 11.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the completion of the transaction, the chief operating officer now directly owns 123,803 shares of the company's stock, valued at $18,681,872.70. This trade represents a 28.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 330,810 shares of company stock worth $69,243,820 in the last three months. Corporate insiders own 16.36% of the company's stock.

Carvana 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.