Rhumbline Advisers Boosts Stock Position in Carvana Co. (NYSE:CVNA)

Rhumbline Advisers lifted its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 15.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,616 shares of the company's stock after buying an additional 26,222 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Carvana worth $40,187,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC grew its position in Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company's stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. State Street Corp grew its position in Carvana by 6.1% during the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company's stock valued at $326,893,000 after purchasing an additional 107,610 shares during the last quarter. Geode Capital Management LLC grew its position in Carvana by 7.8% during 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 during the last quarter. Whale Rock Capital Management LLC purchased a new stake in Carvana during the 3rd quarter valued at about $162,953,000. Finally, Holocene Advisors LP grew its position in Carvana by 108.2% during the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company's stock valued at $96,476,000 after purchasing an additional 287,983 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of NYSE:CVNA traded down $24.58 during trading on Friday, hitting $223.14. The company's stock had a trading volume of 6,856,676 shares, compared to its average volume of 4,083,558. The company has a 50-day moving average of $234.35 and a 200-day moving average of $207.79. Carvana Co. has a 12 month low of $49.38 and a 12 month high of $292.84. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm has a market cap of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37.

Carvana (NYSE:CVNA - Get Free Report) last released 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 446.67%. The company had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.32 billion. On average, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the sale, the chief financial officer now owns 199,962 shares in the company, valued at approximately $55,125,524.16. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the firm'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 sale, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,629 shares of company stock worth $44,833,799. Company insiders own 17.12% of the company's stock.

Analysts Set New Price Targets

CVNA has been the topic of several recent analyst reports. Evercore ISI increased their price objective on shares of Carvana from $240.00 to $245.00 and gave the company an "in-line" rating in a research report on Tuesday, December 3rd. William Blair reissued an "outperform" rating on shares of Carvana in a research report on Thursday. Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. JMP Securities restated a "market outperform" rating and set a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Finally, Wells Fargo & Company lowered their target price on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $265.06.

Carvana 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.