ING Groep NV Makes New $19.06 Million Investment in Carvana Co. (NYSE:CVNA)

ING Groep NV acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 93,700 shares of the company’s stock, valued at approximately $19,055,000.

A number of other large investors have also recently bought and sold shares of the company. Bleakley Financial Group LLC boosted its stake in shares of Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after purchasing an additional 65 shares in the last quarter. Forum Financial Management LP boosted its stake in shares of Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after purchasing an additional 76 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Carvana by 109.9% in 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. Nisa Investment Advisors LLC boosted its stake in shares of Carvana by 0.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock valued at $5,657,000 after purchasing an additional 86 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Carvana by 37.6% in the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock valued at $65,000 after purchasing an additional 88 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Carvana

In related news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares of the company’s stock, valued at approximately $48,402,338.27. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock valued at $44,833,799 in the last quarter. 17.12% of the stock is currently owned by company insiders.

Carvana Stock Performance

Shares of CVNA stock opened at $248.03 on Friday. The company has a market cap of $51.50 billion, a price-to-earnings ratio of 24,827.83 and a beta of 3.37. Carvana Co. has a 52 week low of $48.15 and a 52 week high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The firm has a 50 day moving average of $234.85 and a 200-day moving average of $207.18.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, equities analysts forecast that Carvana Co. will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday. William Blair reiterated an “outperform” rating on shares of Carvana in a report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Citigroup upgraded shares of Carvana from a “neutral” rating to a “buy” rating and raised their price objective for the company from $195.00 to $277.00 in a report on Wednesday, January 8th. Finally, Needham & Company LLC raised their price objective on shares of Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.00.

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.