US Bancorp DE Sells 4,335 Shares of Carvana Co. (NYSE:CVNA)

US Bancorp DE lowered its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 41.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,007 shares of the company's stock after selling 4,335 shares during the period. US Bancorp DE's holdings in Carvana were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Eagle Asset Management Inc. bought a new position in Carvana in the third quarter valued at $50,531,000. Oak Thistle LLC grew its position in Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock valued at $658,000 after purchasing an additional 1,738 shares in the last quarter. Bank of New York Mellon Corp grew its position in Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock valued at $97,305,000 after purchasing an additional 130,942 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Carvana by 33.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company's stock valued at $77,807,000 after purchasing an additional 95,497 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in Carvana in the fourth quarter valued at $609,000. Institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on CVNA shares. Stephens reiterated an "overweight" rating and issued a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Citigroup increased their price target on shares of Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Wedbush set a $250.00 price target on shares of Carvana and gave the company a "neutral" rating in a research note on Wednesday, February 19th. DA Davidson increased their price target on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price target on shares of Carvana in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $265.94.

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Carvana Stock Performance

Carvana stock traded up $1.34 during midday trading on Friday, hitting $188.19. The company's stock had a trading volume of 8,347,166 shares, compared to its average volume of 4,293,713. 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 current ratio of 3.64 and a quick ratio of 2.12. The company has a 50-day moving average price of $231.41 and a two-hundred day moving average price of $213.28. The company has a market cap of $40.11 billion, a price-to-earnings ratio of 119.86 and a beta of 3.56.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $3.32 billion. As a group, sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira J. Platt sold 25,000 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the completion of the transaction, the director now directly owns 5,227 shares in the company, valued at approximately $1,276,956.10. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,629 shares of company stock valued at $30,866,419 in the last ninety days. 17.18% of the stock is currently owned by company insiders.

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.