Vinva Investment Management Ltd bought a new stake in Carvana Co. (NYSE:CVNA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,367 shares of the company's stock, valued at approximately $919,000.
Several other institutional investors and hedge funds also recently made changes to their positions in CVNA. Xponance Inc. raised its holdings in Carvana by 89.5% in the fourth quarter. Xponance Inc. now owns 14,126 shares of the company's stock valued at $2,873,000 after acquiring an additional 6,672 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of Carvana in the 4th quarter worth about $35,568,000. Axxcess Wealth Management LLC raised its stake in shares of Carvana by 5.7% in the 4th quarter. Axxcess Wealth Management LLC now owns 4,759 shares of the company's stock valued at $968,000 after purchasing an additional 255 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Carvana during the fourth quarter worth about $270,000. Finally, Cibc World Markets Corp acquired a new position in Carvana in the fourth quarter worth about $1,049,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on CVNA. Robert W. Baird upped their price objective on Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Needham & Company LLC restated a "buy" rating and set a $340.00 price objective on shares of Carvana in a research note on Friday, March 7th. Bank of America decreased their price objective on shares of Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a report on Friday, March 14th. Piper Sandler raised shares of Carvana from a "neutral" rating to an "overweight" rating and set a $225.00 target price on the stock in a report on Thursday, March 20th. Finally, Wells Fargo & Company reduced their price target on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $263.88.
Get Our Latest Stock Report on Carvana
Insider Buying and Selling
In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the transaction, the chief financial officer now owns 189,097 shares of the company's stock, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,784 shares of company stock valued at $27,524,344 over the last quarter. Corporate insiders own 17.12% of the company's stock.
Carvana Stock Performance
CVNA stock traded up $7.64 during trading on Tuesday, reaching $221.27. 7,065,564 shares of the company's stock were exchanged, compared to its average volume of 3,861,883. The firm has a market cap of $47.17 billion, a PE ratio of 140.94 and a beta of 3.56. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The company's fifty day moving average price is $227.95 and its 200-day moving average price is $215.96.
Carvana (NYSE:CVNA - Get Free Report) last released 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 firm had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.
About Carvana
(
Free Report)
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.
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