Legal & General Group Plc Has $62.27 Million Position in Carvana Co. (NYSE:CVNA)

Legal & General Group Plc increased its stake in Carvana Co. (NYSE:CVNA - Free Report) by 130.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 306,227 shares of the company's stock after buying an additional 173,120 shares during the period. Legal & General Group Plc owned about 0.15% of Carvana worth $62,274,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CVNA. Norges Bank acquired a new stake in Carvana in the 4th quarter valued at approximately $179,364,000. Vanguard Group Inc. increased its position in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after purchasing an additional 610,234 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Carvana by 1,454.1% in the third 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 during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Carvana during the 4th quarter valued at about $86,636,000. Finally, Raymond James Financial Inc. acquired a new position in Carvana in the fourth quarter worth approximately $60,866,000. 56.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares of the company's stock, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 43,433 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total transaction of $9,089,223.91. Following the completion of the sale, the chief financial officer now directly owns 214,678 shares in the company, valued at $44,925,665.06. This represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 330,810 shares of company stock valued at $69,243,820 in the last ninety days. 17.12% of the stock is owned by insiders.

Remove Ads

Carvana Trading Up 4.5 %

CVNA stock traded up $9.20 during trading on Tuesday, hitting $213.93. The company had a trading volume of 5,198,568 shares, compared to its average volume of 4,080,621. 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 12 month low of $67.61 and a 12 month high of $292.84. The stock has a market cap of $45.60 billion, a price-to-earnings ratio of 136.26 and a beta of 3.61. The firm has a 50-day moving average price of $215.18 and a 200-day moving average price of $220.82.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVNA. Wells Fargo & Company reduced their price objective on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Citigroup lowered their price target on shares of Carvana from $320.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Piper Sandler raised Carvana from a "neutral" rating to an "overweight" rating in a research report on Monday, March 31st. Robert W. Baird cut their price target on Carvana from $250.00 to $200.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. Finally, Wedbush set a $250.00 price objective on Carvana and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $253.59.

Carvana 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.