Invesco Ltd. Acquires 123,827 Shares of Carvana Co. (NYSE:CVNA)

Invesco Ltd. grew its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 64.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 316,198 shares of the company's stock after buying an additional 123,827 shares during the quarter. Invesco Ltd. owned 0.15% of Carvana worth $64,302,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Carvana in the 4th quarter worth approximately $179,364,000. Vanguard Group Inc. boosted its position in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after acquiring an additional 610,234 shares during the period. Lord Abbett & CO. LLC grew its position in Carvana by 1,454.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company's stock valued at $93,754,000 after buying an additional 503,824 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Carvana in the fourth quarter valued at approximately $86,636,000. Finally, Raymond James Financial Inc. bought a new position in shares of Carvana in the fourth quarter valued at approximately $60,866,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on CVNA. DA Davidson upped their target price on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Wells Fargo & Company cut their price objective on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Bank of America lowered their target price on Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Robert W. Baird cut their price target on shares of Carvana from $250.00 to $200.00 and set a "neutral" rating for the company in a report on Friday, April 4th. Finally, Morgan Stanley raised shares of Carvana from an "underweight" rating to an "overweight" rating in a research note on Monday, March 31st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $253.59.

Carvana Stock Up 0.8 %

CVNA stock traded up $1.73 during midday trading on Friday, reaching $211.03. The company had a trading volume of 2,437,083 shares, compared to its average volume of 4,056,126. The company has a 50 day moving average of $210.77 and a two-hundred day moving average of $221.19. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The company has a market capitalization of $44.99 billion, a P/E ratio of 134.42 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. On average, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 28,422 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the chief operating officer now owns 123,803 shares in the company, valued at approximately $18,681,872.70. This trade represents a 28.77 % 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 three months. 17.12% of the stock is currently owned by insiders.

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.