Korea Investment CORP Acquires Shares of 73,522 Carvana Co. (NYSE:CVNA)

Korea Investment CORP purchased a new stake in Carvana Co. (NYSE:CVNA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 73,522 shares of the company's stock, valued at approximately $14,951,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVNA. Fidelis Capital Partners LLC boosted its holdings in Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock worth $313,000 after acquiring an additional 51 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock worth $483,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after purchasing an additional 74 shares during the last quarter. Great Lakes Advisors LLC increased its stake in Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock valued at $752,000 after purchasing an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 43,433 shares of Carvana stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the sale, the chief financial officer now directly owns 214,678 shares of the company's stock, valued at $44,925,665.06. The trade was a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas Taira sold 27,593 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now owns 179,673 shares of the company's stock, valued at $40,431,815.19. The trade was a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,810 shares of company stock valued at $61,698,820. 17.12% of the stock is owned by company insiders.

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Analyst Ratings Changes

CVNA has been the topic of a number of research analyst reports. Evercore ISI dropped their price objective on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Bank of America dropped their price target on Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Citigroup raised their price objective on Carvana from $277.00 to $320.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Piper Sandler raised Carvana from a "neutral" rating to an "overweight" rating in a report on Monday. Finally, Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "overweight" rating in a report on Monday. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $261.53.

Carvana Price Performance

Shares of CVNA stock traded down $40.60 during mid-day trading on Thursday, hitting $185.72. 7,515,893 shares of the stock were exchanged, compared to its average volume of 3,940,954. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84. The firm has a fifty day moving average of $226.26 and a 200 day moving average of $219.11. The company has a market cap of $39.59 billion, a PE ratio of 118.29 and a beta of 3.56.

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

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.