Sterling Capital Management LLC Boosts Holdings in Carvana Co. (NYSE:CVNA)

Sterling Capital Management LLC raised its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 43.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,781 shares of the company's stock after buying an additional 1,449 shares during the quarter. Sterling Capital Management LLC's holdings in Carvana were worth $972,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp raised its stake in Carvana by 65.3% in the 3rd quarter. Stifel Financial Corp now owns 5,434 shares of the company's stock valued at $946,000 after acquiring an additional 2,147 shares during the period. National Bank of Canada FI increased its position in shares of Carvana by 47.7% during the third quarter. National Bank of Canada FI now owns 1,421 shares of the company's stock worth $247,000 after acquiring an additional 459 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in Carvana during the 3rd quarter valued at $326,000. MML Investors Services LLC grew its holdings in shares of Carvana by 3.0% in the third quarter. MML Investors Services LLC now owns 4,172 shares of the company's stock valued at $726,000 after acquiring an additional 122 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Carvana in the third quarter worth about $312,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

Carvana stock traded up $1.73 during mid-day trading on Friday, reaching $211.03. 2,437,083 shares of the stock traded hands, compared to its average volume of 4,056,126. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The stock has a market capitalization of $44.99 billion, a PE ratio of 134.42 and a beta of 3.61. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The business's 50-day moving average is $210.77 and its 200-day moving average is $221.19.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.32 billion. As a group, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. The trade was a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now owns 219,962 shares in the company, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 330,810 shares of company stock worth $69,243,820 over the last quarter. 17.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CVNA shares. Wells Fargo & Company lowered their price objective on Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Robert W. Baird cut their price objective on Carvana from $250.00 to $200.00 and set a "neutral" rating for the company in a report on Friday, April 4th. Wedbush set a $250.00 price target on Carvana and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Piper Sandler raised shares of Carvana from a "neutral" rating to an "overweight" rating in a research note on Monday, March 31st. Finally, William Blair reaffirmed an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.