Hsbc Holdings PLC Boosts Stake in Carvana Co. (NYSE:CVNA)

Hsbc Holdings PLC lifted its stake in Carvana Co. (NYSE:CVNA - Free Report) by 573.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 42,974 shares of the company's stock after acquiring an additional 36,591 shares during the quarter. Hsbc Holdings PLC's holdings in Carvana were worth $8,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after buying an additional 610,234 shares during the period. Lingotto Investment Management LLP grew its position in shares of Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after buying an additional 57,215 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after purchasing an additional 75,250 shares in the last quarter. Norges Bank acquired a new position in Carvana during the fourth quarter worth approximately $179,364,000. Finally, First Trust Advisors LP raised its position in Carvana by 4.0% in the 4th quarter. First Trust Advisors LP now owns 593,636 shares of the company's stock valued at $120,722,000 after purchasing an additional 22,640 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Trading Up 0.8 %

Shares of CVNA opened at $236.82 on Monday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a 12 month low of $80.07 and a 12 month high of $292.84. The stock's 50-day moving average is $204.82 and its two-hundred day moving average is $222.98. The stock has a market cap of $50.48 billion, a PE ratio of 150.84 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last announced its 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. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Taira sold 27,593 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the sale, the insider now owns 179,673 shares of the company's stock, valued at approximately $40,431,815.19. The trade was a 13.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 330,810 shares of company stock valued at $69,243,820 over the last ninety days. Corporate insiders own 17.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVNA. Bank of America decreased 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. Royal Bank of Canada lifted their price target on shares of Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Evercore ISI dropped their target price on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a report on Tuesday, March 11th. Needham & Company LLC reissued a "buy" rating and issued a $340.00 price target on shares of Carvana in a report on Friday, March 7th. Finally, Wells Fargo & Company cut their price objective on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Carvana presently has an average rating of "Moderate Buy" and a consensus price target of $253.88.

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.

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