Geode Capital Management LLC Buys 75,250 Shares of Carvana Co. (NYSE:CVNA)

Geode Capital Management LLC boosted its stake in Carvana Co. (NYSE:CVNA - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,878,796 shares of the company's stock after purchasing an additional 75,250 shares during the quarter. Geode Capital Management LLC owned about 0.90% of Carvana worth $381,592,000 as of its most recent SEC filing.

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

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Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price target on shares of Carvana in a report on Friday, March 7th. Citigroup dropped their price target on Carvana from $320.00 to $280.00 and set a "buy" rating on the stock in a research note on Tuesday. Wedbush set a $250.00 price target on Carvana and gave the company a "neutral" rating in a report on Wednesday, February 19th. Piper Sandler upgraded Carvana from a "neutral" rating to an "overweight" rating in a report on Monday, March 31st. Finally, DA Davidson upped their price target on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $253.59.

Insider Activity at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares of the company's stock, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now directly owns 219,962 shares of the company's stock, valued at $55,016,895.44. This represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 330,810 shares of company stock worth $69,243,820. Company insiders own 16.36% of the company's stock.

Carvana Stock Performance

NYSE CVNA traded down $22.41 on Thursday, reaching $198.03. The stock had a trading volume of 3,527,832 shares, compared to its average volume of 4,917,167. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The company has a market cap of $42.21 billion, a P/E ratio of 126.60 and a beta of 3.61. The firm has a fifty day moving average of $218.19 and a two-hundred day moving average of $219.77. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84.

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

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.