Xponance Inc. Grows Stake in Carvana Co. (NYSE:CVNA)

Xponance Inc. raised its stake in Carvana Co. (NYSE:CVNA - Free Report) by 89.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,126 shares of the company's stock after buying an additional 6,672 shares during the period. Xponance Inc.'s holdings in Carvana were worth $2,873,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC bought a new stake in Carvana during the fourth quarter valued at $28,000. Global Retirement Partners LLC boosted its position in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in Carvana during the fourth quarter worth approximately $31,000. ORG Wealth Partners LLC bought a new stake in Carvana in the fourth quarter worth approximately $34,000. Finally, Versant Capital Management Inc acquired a new position in Carvana in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler upgraded shares of Carvana from a "neutral" rating to an "overweight" rating and set a $225.00 price objective for the company in a research note on Thursday, March 20th. Citigroup lifted 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 objective on shares of Carvana and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Finally, William Blair reissued 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 given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $263.88.

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Carvana Stock Performance

CVNA stock traded down $16.54 during midday trading on Wednesday, hitting $205.12. The company's stock had a trading volume of 4,365,974 shares, compared to its average volume of 4,592,585. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 130.65 and a beta of 3.56. The stock's 50-day moving average price is $228.48 and its 200 day moving average price is $216.58. 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 (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other news, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This trade represents a 20.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 219,962 shares of the company's stock, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,784 shares of company stock valued at $27,524,344 over the last ninety days. 17.12% of the stock is currently owned by 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.