Carvana Co. (NYSE:CVNA) Shares Sold by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. reduced its position in Carvana Co. (NYSE:CVNA - Free Report) by 35.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,650 shares of the company's stock after selling 17,800 shares during the quarter. Carvana makes up about 2.2% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 13th largest holding. PCJ Investment Counsel Ltd.'s holdings in Carvana were worth $6,640,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CVNA. Quent Capital LLC bought a new position in shares of Carvana during the fourth quarter worth $28,000. Global Retirement Partners LLC raised its stake in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Carvana during the fourth quarter valued at $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Carvana in the third quarter valued at $40,000. Finally, Versant Capital Management Inc purchased a new stake in shares of Carvana in the fourth quarter valued at $42,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Performance

CVNA traded up $7.40 during trading on Wednesday, reaching $179.62. 4,389,842 shares of the company's stock were exchanged, compared to its average volume of 3,837,088. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a market capitalization of $38.29 billion, a P/E ratio of 114.41 and a beta of 3.56. The company's fifty day simple moving average is $230.01 and its 200-day simple moving average is $213.89.

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Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating 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 firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. As a group, research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the sale, the insider now directly owns 151,029 shares of the company's stock, valued at $37,440,089.10. This represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,629 shares of company stock valued at $24,758,919. 17.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CVNA shares. Robert W. Baird increased their target price on shares of Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Stephens restated an "overweight" rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Needham & Company LLC restated a "buy" rating and issued a $340.00 price target on shares of Carvana in a report on Friday, March 7th. Wells Fargo & Company cut their price target on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Finally, Bank of America increased their target price on shares of Carvana from $252.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $265.65.

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.