Federated Hermes Inc. Has $45.22 Million Stake in Carvana Co. (NYSE:CVNA)

Federated Hermes Inc. reduced its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,198 shares of the company's stock after selling 14,016 shares during the quarter. Federated Hermes Inc. owned 0.11% of Carvana worth $45,216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after purchasing an additional 610,234 shares during the last quarter. Lingotto Investment Management LLP lifted its position in Carvana by 1.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after buying an additional 57,215 shares in the last quarter. Geode Capital Management LLC grew its holdings in Carvana by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after acquiring an additional 75,250 shares during the last quarter. State Street Corp increased its position in Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company's stock valued at $326,893,000 after acquiring an additional 107,610 shares in the last quarter. Finally, Norges Bank acquired a new stake in Carvana in the 4th quarter valued at about $179,364,000. 56.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Morgan Stanley upgraded Carvana from an "underweight" rating to an "overweight" rating in a research report on Monday, March 31st. Stephens restated an "overweight" rating and set a $300.00 target price on shares of Carvana in a research report on Monday, March 3rd. Bank of America lowered their price objective on Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Finally, Piper Sandler upgraded shares of Carvana from a "neutral" rating to an "overweight" rating in a research report on Monday, March 31st. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Carvana currently has an average rating of "Moderate Buy" and an average target price of $253.59.

Remove Ads

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 43,433 shares of the firm's 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 transaction, the chief financial officer now owns 214,678 shares in the company, valued at $44,925,665.06. This trade represents a 16.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 330,810 shares of company stock valued at $69,243,820. 17.12% of the stock is owned by corporate insiders.

Carvana Trading Up 1.6 %

Shares of Carvana stock traded up $3.25 during trading hours on Friday, hitting $206.91. The company's stock had a trading volume of 3,910,828 shares, compared to its average volume of 4,081,404. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. 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 capitalization of $44.11 billion, a PE ratio of 131.79 and a beta of 3.61. The stock has a 50 day moving average of $216.20 and a 200 day moving average of $220.58.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 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 the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Analysts predict 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.