Resona Asset Management Co. Ltd. Makes New Investment in Carvana Co. (NYSE:CVNA)

Resona Asset Management Co. Ltd. bought a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,005 shares of the company's stock, valued at approximately $6,554,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prudential PLC acquired a new position in Carvana in the fourth quarter valued at approximately $374,000. Selway Asset Management acquired a new position in Carvana in the fourth quarter valued at about $203,000. Motley Fool Asset Management LLC boosted its holdings in Carvana by 11.4% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,892 shares of the company's stock worth $385,000 after buying an additional 194 shares during the last quarter. World Investment Advisors increased its stake in shares of Carvana by 9.1% in the 4th quarter. World Investment Advisors now owns 12,585 shares of the company's stock valued at $2,559,000 after acquiring an additional 1,045 shares during the last quarter. Finally, Ardmore Road Asset Management LP bought a new stake in shares of Carvana in the 4th quarter valued at about $20,336,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Stock Performance

NYSE CVNA traded up $3.25 during trading on Friday, reaching $206.91. 3,910,828 shares of the company's stock were exchanged, compared to its average volume of 4,081,404. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The stock has a market capitalization of $44.11 billion, a P/E ratio of 131.79 and a beta of 3.61. The business has a 50 day moving average price of $216.20 and a 200-day moving average price of $220.58. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

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Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.32 billion. Sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul W. Breaux sold 1,362 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the company's stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders have sold 330,810 shares of company stock valued at $69,243,820 over the last ninety days. 17.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Wedbush set a $250.00 price objective on shares of Carvana and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Evercore ISI reduced their target price on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Morgan Stanley raised Carvana from an "underweight" rating to an "overweight" rating in a research report on Monday, March 31st. Finally, Bank of America decreased their price objective on Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $253.59.

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.