Price T Rowe Associates Inc. MD Sells 563,420 Shares of Carvana Co. (NYSE:CVNA)

Price T Rowe Associates Inc. MD lessened its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,126,793 shares of the company's stock after selling 563,420 shares during the period. Price T Rowe Associates Inc. MD owned 6.32% of Carvana worth $2,669,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC increased its position in shares of Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock valued at $313,000 after purchasing an additional 51 shares during the last quarter. Bleakley Financial Group LLC increased its position in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock valued at $483,000 after acquiring an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after acquiring an additional 74 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock worth $752,000 after acquiring an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Trading Up 8.1 %

Shares of NYSE:CVNA opened at $211.65 on Wednesday. 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 company has a market capitalization of $45.12 billion, a PE ratio of 134.81 and a beta of 3.61. Carvana Co. has a 12-month low of $71.39 and a 12-month high of $292.84. The business's fifty day simple moving average is $208.10 and its 200-day simple moving average is $221.85.

Carvana (NYSE:CVNA - Get Free Report) last announced its 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 net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 1,362 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the transaction, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were 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 owns 219,962 shares of the company's stock, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 330,810 shares of company stock worth $69,243,820 in the last 90 days. 17.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on CVNA shares. Bank of America reduced their price objective on shares of Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Stephens reissued an "overweight" rating and set a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. DA Davidson upped 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. JPMorgan Chase & Co. decreased their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, JMP Securities cut their price target on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $253.88.

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.

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