Primecap Management Co. CA Takes Position in Carvana Co. (NYSE:CVNA)

Primecap Management Co. CA acquired a new position in Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 174,900 shares of the company's stock, valued at approximately $35,568,000. Primecap Management Co. CA owned 0.08% of Carvana at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quent Capital LLC bought a new position in Carvana in the 4th quarter worth approximately $28,000. Global Retirement Partners LLC boosted its holdings in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in Carvana in the 4th quarter valued at $31,000. ORG Wealth Partners LLC bought a new position in Carvana in the 4th quarter valued at $34,000. Finally, Versant Capital Management Inc bought a new position in Carvana in the 4th quarter valued at $42,000. 56.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. DA Davidson raised their price target on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Citigroup raised their price target on shares of Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a report on Friday, February 21st. Stephens reissued an "overweight" rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. JMP Securities reissued a "market outperform" rating and issued a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Finally, Evercore ISI cut their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a report on Tuesday, March 11th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $262.71.

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Carvana Trading Up 3.2 %

NYSE:CVNA traded up $5.96 during trading hours on Friday, reaching $191.38. The company's stock had a trading volume of 6,168,882 shares, compared to its average volume of 3,853,684. The firm has a market capitalization of $40.80 billion, a price-to-earnings ratio of 121.90 and a beta of 3.56. The firm has a 50-day simple moving average of $227.57 and a 200-day simple moving average of $214.47. 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 quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA - Get Free Report) last issued 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. The company had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value 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. This trade represents a 11.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This trade represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,784 shares of company stock valued at $27,524,344 in the last quarter. 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.