First Trust Advisors LP Grows Stake in Carvana Co. (NYSE:CVNA)

First Trust Advisors LP lifted its stake in Carvana Co. (NYSE:CVNA - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 593,636 shares of the company's stock after purchasing an additional 22,640 shares during the quarter. First Trust Advisors LP owned 0.29% of Carvana worth $120,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Commerce Bank raised its holdings in Carvana by 3.3% in the fourth quarter. Commerce Bank now owns 4,377 shares of the company's stock worth $890,000 after buying an additional 140 shares during the last quarter. Adams Wealth Management increased its position in shares of Carvana by 7.8% during the fourth quarter. Adams Wealth Management now owns 1,388 shares of the company's stock valued at $282,000 after acquiring an additional 100 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Carvana by 323.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 102,095 shares of the company's stock worth $20,723,000 after acquiring an additional 77,960 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Carvana by 70.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 107,812 shares of the company's stock valued at $21,925,000 after acquiring an additional 44,644 shares in the last quarter. Finally, Zacks Investment Management boosted its stake in Carvana by 8.8% during the 4th quarter. Zacks Investment Management now owns 37,217 shares of the company's stock valued at $7,568,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVNA shares. Wells Fargo & Company decreased their price target on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Needham & Company LLC restated a "buy" rating and set a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Royal Bank of Canada lifted their price target 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. Citigroup lowered their price objective on shares of Carvana from $320.00 to $280.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Wedbush set a $250.00 target price on shares of Carvana and gave the stock a "neutral" rating in a report on Wednesday, February 19th. 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.59.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 10,000 shares of the business's stock in a transaction 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. The trade was a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the company's stock in a transaction 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 transaction, the chief operating officer now owns 123,803 shares of the company's stock, valued at approximately $18,681,872.70. This represents a 28.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 330,810 shares of company stock valued at $69,243,820. Company insiders own 17.12% of the company's stock.

Carvana Stock Up 0.8 %

NYSE CVNA opened at $211.03 on Monday. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $44.99 billion, a P/E ratio of 134.42 and a beta of 3.61. The stock's 50-day moving average price is $210.77 and its 200-day moving average price is $221.81.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The business 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%. On average, equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Carvana Company 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.

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