Rakuten Securities Inc. increased its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 1,908.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,435 shares of the company's stock after acquiring an additional 3,264 shares during the quarter. Rakuten Securities Inc.'s holdings in Carvana were worth $699,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company's stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Whale Rock Capital Management LLC acquired a new position in Carvana in the third quarter worth about $162,953,000. Lord Abbett & CO. LLC lifted its stake in Carvana by 1,454.1% during the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company's stock worth $93,754,000 after purchasing an additional 503,824 shares during the period. Raymond James Financial Inc. acquired a new stake in Carvana during the fourth quarter valued at approximately $60,866,000. Finally, Eagle Asset Management Inc. acquired a new position in Carvana during the third quarter worth $50,531,000. 56.71% of the stock is owned by institutional investors.
Insider Buying and Selling at Carvana
In other news, CFO Mark W. Jenkins sold 10,000 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at $55,016,895.44. The trade was a 4.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul W. Breaux sold 1,362 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,784 shares of company stock worth $18,599,844. Insiders own 17.12% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Robert W. Baird lifted 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. Citigroup raised their price target on Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a report on Friday, February 21st. Stephens restated an "overweight" rating and set a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. Royal Bank of Canada lifted their price target on Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, William Blair reissued an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $265.65.
Read Our Latest Stock Analysis on Carvana
Carvana Stock Down 7.6 %
CVNA stock traded down $13.62 during mid-day trading on Thursday, hitting $165.67. 4,943,486 shares of the company were exchanged, compared to its average volume of 3,840,991. The firm has a market cap of $35.32 billion, a P/E ratio of 105.52 and a beta of 3.56. 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. The firm's 50 day simple moving average is $229.54 and its 200 day simple moving average is $213.65.
Carvana (NYSE:CVNA - Get Free Report) last announced 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. 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. On average, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.
About Carvana
(
Free Report)
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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