Vanguard Group Inc. Buys 610,234 Shares of Carvana Co. (NYSE:CVNA)

Vanguard Group Inc. raised its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,425,367 shares of the company's stock after acquiring an additional 610,234 shares during the quarter. Vanguard Group Inc. owned approximately 5.50% of Carvana worth $2,323,463,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CVNA. Quent Capital LLC bought a new stake in shares of Carvana in the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its holdings in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC acquired a new position in Carvana in the fourth quarter worth $31,000. ORG Wealth Partners LLC bought a new stake in Carvana during the fourth quarter valued at $34,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Carvana during the fourth quarter worth $42,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVNA. Citigroup lifted their price target on shares of Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a report on Friday, February 21st. Wedbush set a $250.00 target price on Carvana and gave the company a "neutral" rating in a report on Wednesday, February 19th. Robert W. Baird raised their price target on Carvana from $200.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Wells Fargo & Company lowered their price objective on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Finally, Bank of America cut their target price on Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $261.53.

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Carvana Price Performance

CVNA traded up $4.74 during trading on Monday, reaching $209.15. The stock had a trading volume of 4,838,402 shares, compared to its average volume of 3,919,676. The stock has a 50 day moving average of $226.82 and a two-hundred day moving average of $218.57. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a market capitalization of $44.58 billion, a price-to-earnings ratio of 133.21 and a beta of 3.56. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, insider Thomas Taira sold 27,593 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the transaction, the insider now directly owns 179,673 shares of the company's stock, valued at $40,431,815.19. This represents a 13.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares of the company's stock, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,377 shares of company stock worth $44,251,096. 17.12% of the stock is owned by company insiders.

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.