Pictet Asset Management Holding SA Grows Holdings in Carvana Co. (NYSE:CVNA)

Pictet Asset Management Holding SA raised its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 215.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,920 shares of the company's stock after acquiring an additional 30,013 shares during the quarter. Pictet Asset Management Holding SA's holdings in Carvana were worth $8,932,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CVNA. Vanguard Group Inc. lifted its stake in shares of Carvana by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after purchasing an additional 610,234 shares during the period. Lingotto Investment Management LLP boosted its stake in shares of Carvana by 1.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after acquiring an additional 57,215 shares in the last quarter. State Street Corp grew its holdings in shares of Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company's stock worth $326,893,000 after acquiring an additional 107,610 shares during the period. Geode Capital Management LLC increased its stake in Carvana by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company's stock valued at $315,133,000 after purchasing an additional 131,059 shares in the last quarter. Finally, Whale Rock Capital Management LLC acquired a new position in Carvana during the third quarter worth $162,953,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $55,016,895.44. This represents a 4.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the business's stock in a transaction dated Monday, February 10th. The stock was 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 in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 280,810 shares of company stock valued at $61,698,820 over the last ninety days. Corporate insiders own 17.12% of the company's stock.

Carvana Trading Down 10.6 %

Shares of CVNA traded down $19.25 during mid-day trading on Friday, reaching $162.54. The company 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 current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The firm has a fifty day simple moving average of $223.47 and a 200-day simple moving average of $219.36. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last posted 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. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVNA. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. Citigroup lifted their price objective on Carvana from $277.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Bank of America lowered their target price on Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Finally, Royal Bank of Canada boosted their price target on Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Carvana currently has a consensus rating of "Moderate Buy" and an average price target of $258.59.

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.