Zacks Investment Management Buys 3,000 Shares of Carvana Co. (NYSE:CVNA)

Zacks Investment Management boosted its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,217 shares of the company's stock after purchasing an additional 3,000 shares during the period. Zacks Investment Management's holdings in Carvana were worth $7,568,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fidelis Capital Partners LLC boosted its position in Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock valued at $313,000 after purchasing an additional 51 shares during the last quarter. Bleakley Financial Group LLC raised its position in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock valued at $483,000 after acquiring an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after acquiring an additional 74 shares during the last quarter. Great Lakes Advisors LLC grew its position in Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock worth $752,000 after acquiring an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings 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. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

CVNA traded up $19.82 on Tuesday, reaching $215.65. The company had a trading volume of 1,940,812 shares, compared to its average volume of 4,048,228. The company's fifty day moving average is $209.33 and its 200 day moving average is $221.92. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock has a market cap of $45.97 billion, a P/E ratio of 137.61 and a beta of 3.61. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark W. Jenkins sold 28,422 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now owns 219,962 shares of the company's stock, valued at $63,536,023.70. The trade was a 11.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the completion of the transaction, the chief operating officer now directly owns 123,803 shares in the company, valued at approximately $18,681,872.70. This represents a 28.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 330,810 shares of company stock valued at $69,243,820. 17.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

CVNA has been the topic of a number of analyst reports. Citigroup lowered their price objective on Carvana from $320.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their target price on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Royal Bank of Canada upped their price target on shares of Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Morgan Stanley raised Carvana from an "underweight" rating to an "overweight" rating in a research report on Monday, March 31st. Finally, William Blair reissued an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Carvana presently has a consensus rating of "Moderate Buy" and an average target price of $253.59.

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.