Nomura Asset Management Co. Ltd. Takes Position in Carvana Co. (NYSE:CVNA)

Nomura Asset Management Co. Ltd. purchased a new position in Carvana Co. (NYSE:CVNA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 34,751 shares of the company's stock, valued at approximately $7,067,000.

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

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Carvana Stock Down 10.6 %

Shares of CVNA stock traded down $19.25 during mid-day trading on Friday, hitting $162.54. The company's stock had a trading volume of 11,050,385 shares, compared to its average volume of 3,996,697. The stock has a market cap of $34.65 billion, a price-to-earnings ratio of 103.53 and a beta of 3.61. 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 52-week low of $67.61 and a 52-week high of $292.84. The business has a 50-day moving average price of $223.47 and a 200 day moving average price of $219.36.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion during 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 predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the topic of a number of research analyst reports. Evercore ISI reduced their target price on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Morgan Stanley raised Carvana from an "underweight" rating to an "overweight" rating in a research note on Monday, March 31st. DA Davidson raised their price objective on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. 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. Finally, Wedbush set a $250.00 price target on shares of Carvana and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Carvana has a consensus rating of "Moderate Buy" and an average price target of $258.59.

Insider Activity at Carvana

In related news, insider Paul W. Breaux sold 1,362 shares of the firm'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 value of $367,848.96. Following the transaction, the insider now owns 153,240 shares of the company's stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now directly owns 219,962 shares of the company's stock, valued at approximately $55,016,895.44. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 280,810 shares of company stock worth $61,698,820 over the last quarter. Company insiders own 17.12% 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.