Mitsubishi UFJ Trust & Banking Corp Invests $10.67 Million in Carvana Co. (NYSE:CVNA)

Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 52,480 shares of the company's stock, valued at approximately $10,672,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC raised its holdings in shares of Carvana by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 4,215 shares of the company's stock worth $734,000 after purchasing an additional 2,234 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Carvana in the third quarter valued at $244,000. The Manufacturers Life Insurance Company lifted its position in shares of Carvana by 2.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 171,389 shares of the company's stock valued at $29,841,000 after buying an additional 4,485 shares during the last quarter. Townsquare Capital LLC purchased a new stake in Carvana in the 3rd quarter worth about $282,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Carvana by 13.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,140 shares of the company's stock valued at $3,332,000 after acquiring an additional 2,243 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 28,422 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now directly owns 219,962 shares of the company's stock, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on Monday, March 31st. The shares were sold at an average price of $207.32, for a total value of $10,366,000.00. Following the transaction, the chief operating officer now owns 128,116 shares in the company, valued at $26,561,009.12. This trade represents a 28.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 280,810 shares of company stock valued at $61,698,820. Company insiders own 17.12% of the company's stock.

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Carvana Stock Performance

Shares of NYSE:CVNA traded down $41.29 during midday trading on Thursday, reaching $185.03. 3,215,493 shares of the company's stock traded hands, compared to its average volume of 3,925,633. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The company has a market cap of $39.44 billion, a price-to-earnings ratio of 117.85 and a beta of 3.56. The stock has a 50 day moving average of $226.26 and a 200 day moving average of $219.11.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "overweight" rating in a research note on Monday. Stephens reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. William Blair reiterated an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. JPMorgan Chase & Co. cut their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Bank of America cut their price objective on shares of Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $261.53.

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.