National Bank of Canada FI Increases Stock Position in Carvana Co. (NYSE:CVNA)

National Bank of Canada FI grew its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 4,087.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,506 shares of the company's stock after acquiring an additional 58,085 shares during the period. National Bank of Canada FI's holdings in Carvana were worth $12,101,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. raised its stake in Carvana by 306.6% in the fourth quarter. Franklin Resources Inc. now owns 201,320 shares of the company's stock worth $40,940,000 after buying an additional 151,806 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new position in Carvana in the fourth quarter worth $897,000. Wellington Management Group LLP boosted its holdings in shares of Carvana by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 36,215 shares of the company's stock valued at $7,365,000 after buying an additional 1,430 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Carvana by 37.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,947 shares of the company's stock worth $1,413,000 after buying an additional 1,911 shares during the period. Finally, Schroder Investment Management Group bought a new position in shares of Carvana in the 4th quarter worth about $642,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JMP Securities cut their price objective on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a report on Wednesday. Piper Sandler upgraded Carvana from a "neutral" rating to an "overweight" rating in a research note on Monday, March 31st. Bank of America cut their target price on Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price target on shares of Carvana in a research note on Friday, March 7th. Finally, Royal Bank of Canada increased their price objective on shares of Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $253.59.

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Carvana Stock Performance

Shares of Carvana stock traded down $22.41 on Thursday, hitting $198.03. 3,527,832 shares of the company's stock were exchanged, compared to its average volume of 4,917,167. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock has a market capitalization of $42.21 billion, a PE ratio of 126.60 and a beta of 3.61. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The company has a 50-day simple moving average of $218.19 and a 200-day simple moving average of $219.77.

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 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 business had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.32 billion. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on Monday, April 7th. The shares were sold at an average price of $150.90, for a total transaction 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. The trade was a 28.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 28,422 shares of the 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 completion of the sale, the chief financial officer now owns 219,962 shares of the company's stock, valued at $63,536,023.70. The trade was a 11.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 330,810 shares of company stock worth $69,243,820. Company insiders own 16.36% of the company's stock.

Carvana Company 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.