Franklin Resources Inc. Boosts Position in Carvana Co. (NYSE:CVNA)

Franklin Resources Inc. boosted its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 306.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,320 shares of the company's stock after buying an additional 151,806 shares during the period. Franklin Resources Inc. owned approximately 0.10% of Carvana worth $40,940,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Carvana by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock valued at $94,148,000 after acquiring an additional 39,089 shares during the last quarter. Plato Investment Management Ltd grew its stake in shares of Carvana by 135.5% in the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock worth $1,062,000 after buying an additional 2,994 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Carvana by 37.7% in the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock worth $97,305,000 after buying an additional 130,942 shares during the last quarter. Oak Thistle LLC raised its position in shares of Carvana by 115.9% during the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock valued at $658,000 after buying an additional 1,738 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted 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 acquiring an additional 95,497 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

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Carvana Stock Down 7.5 %

CVNA stock traded down $16.43 during trading on Thursday, hitting $204.01. 3,040,628 shares of the company's stock traded hands, compared to its average volume of 4,070,733. The business has a fifty day simple moving average of $218.19 and a two-hundred day simple moving average of $219.77. 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 firm has a market capitalization of $43.49 billion, a P/E ratio of 130.53 and a beta of 3.61. 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 issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during 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%. Sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CVNA shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 price objective on shares of Carvana in a research note on Friday, March 7th. Wells Fargo & Company lowered their price target on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Citigroup reduced their target price on shares of Carvana from $320.00 to $280.00 and set a "buy" rating on the stock in a research note on Tuesday. Evercore ISI dropped their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Finally, Piper Sandler raised shares of Carvana from a "neutral" rating to an "overweight" rating in a research report on Monday, March 31st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and an average price target of $253.59.

Insider Activity at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $150.90, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $8,209,694.70. Following the transaction, the chief financial officer now owns 219,962 shares in the company, valued at $63,536,023.70. The trade was a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 330,810 shares of company stock valued at $69,243,820 over the last 90 days. Insiders own 16.36% of the company's stock.

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.