Meiji Yasuda Asset Management Co Ltd. Makes New $319,000 Investment in Carvana Co. (NYSE:CVNA)

Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,570 shares of the company's stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quent Capital LLC bought a new stake in Carvana during the fourth quarter valued at $28,000. Global Retirement Partners LLC boosted its holdings in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after buying an additional 78 shares during the period. Rialto Wealth Management LLC bought a new stake in shares of Carvana during the 4th quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new stake in Carvana during the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc bought a new position in Carvana in the fourth quarter worth about $42,000. Institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

CVNA has been the topic of a number of research reports. Citigroup increased their price target on Carvana from $277.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Robert W. Baird upped their price target on shares of Carvana from $200.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Wedbush set a $250.00 price objective on shares of Carvana and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada upped their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $261.53.

Remove Ads

Insider Transactions at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul W. Breaux sold 1,362 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,377 shares of company stock valued at $44,251,096 in the last three months. 17.12% of the stock is currently owned by corporate insiders.

Carvana Price Performance

NYSE:CVNA traded up $8.46 during mid-day trading on Wednesday, reaching $221.05. 1,109,570 shares of the stock were exchanged, compared to its average volume of 3,908,698. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The firm has a market capitalization of $47.12 billion, a PE ratio of 140.74 and a beta of 3.56. The business has a fifty day moving average price of $226.42 and a 200 day moving average price of $219.06.

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

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.