Vestcor Inc Acquires Shares of 2,202 Carvana Co. (NYSE:CVNA)

Vestcor Inc acquired a new position in Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,202 shares of the company's stock, valued at approximately $448,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company's stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Lingotto Investment Management LLP lifted its position in Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after buying an additional 57,215 shares in the last quarter. State Street Corp boosted its stake in shares of 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 buying an additional 107,610 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 131,059 shares in the last quarter. Finally, Whale Rock Capital Management LLC acquired a new stake in Carvana during the third quarter valued at $162,953,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Paul W. Breaux sold 1,362 shares of the firm's stock in a transaction 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 directly owns 153,240 shares of the company's stock, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The transaction 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 the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the transaction, the chief financial officer now directly owns 189,097 shares in the company, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,784 shares of company stock worth $27,524,344 over the last three months. 17.12% of the stock is currently owned by corporate insiders.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVNA shares. Needham & Company LLC reiterated a "buy" rating and set a $340.00 price target on shares of Carvana in a report on Friday, March 7th. Robert W. Baird lifted their target price on shares of Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. William Blair restated an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. JMP Securities reaffirmed a "market outperform" rating and issued a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Finally, Royal Bank of Canada increased their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $262.71.

Carvana Stock Performance

Shares of NYSE CVNA traded up $5.96 during trading hours on Friday, reaching $191.38. The stock had a trading volume of 6,012,012 shares, compared to its average volume of 3,856,931. Carvana Co. has a twelve month low of $67.61 and a twelve month 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 business's fifty day moving average is $227.61 and its two-hundred day moving average is $214.18. The company has a market cap of $40.80 billion, a price-to-earnings ratio of 121.90 and a beta of 3.56.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data 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 36.59%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

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.