Cigna Investments Inc. New Purchases Shares of 1,098 Carvana Co. (NYSE:CVNA)

Cigna Investments Inc. New purchased a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,098 shares of the company's stock, valued at approximately $223,000.

A number of other institutional investors have also modified their holdings of CVNA. Eagle Asset Management Inc. purchased a new position in shares of Carvana during the 3rd quarter worth about $50,531,000. Oak Thistle LLC raised its stake in Carvana by 115.9% during the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock worth $658,000 after purchasing an additional 1,738 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Carvana by 33.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company's stock valued at $77,807,000 after purchasing an additional 95,497 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Carvana during the 4th quarter valued at $609,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Carvana during the 4th quarter worth $1,106,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Analysts Set New Price Targets

CVNA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Carvana from $300.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Jefferies Financial Group lifted their price objective on Carvana from $150.00 to $185.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their target price on shares of Carvana from $160.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Stephens reiterated an "overweight" rating and set a $300.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Finally, Royal Bank of Canada raised shares of Carvana from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $270.00 to $280.00 in a research note on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $249.29.

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Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total value of $2,550,700.00. Following the sale, the chief financial officer now directly owns 189,761 shares in the company, valued at approximately $48,402,338.27. This represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,207 shares of company stock valued at $31,110,504. Insiders own 17.12% of the company's stock.

Carvana Stock Up 4.9 %

Shares of CVNA stock traded up $13.22 during mid-day trading on Friday, reaching $285.62. 3,941,997 shares of the company were exchanged, compared to its average volume of 2,519,753. Carvana Co. has a fifty-two week low of $48.15 and a fifty-two week high of $286.38. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The company has a market capitalization of $59.30 billion, a P/E ratio of 28,590.19 and a beta of 3.37. The business's 50 day simple moving average is $232.45 and its 200 day simple moving average is $203.86.

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.