2,202 Shares in Carvana Co. (NYSE:CVNA) Bought by Vestcor Inc

Vestcor Inc purchased a new stake in shares of Carvana Co. (NYSE:CVNA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,202 shares of the company’s stock, valued at approximately $448,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVNA. Eagle Asset Management Inc. purchased a new position in shares of Carvana in the 3rd quarter valued at $50,531,000. Charles Schwab Investment Management Inc. raised its position in Carvana by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock valued at $94,148,000 after purchasing an additional 39,089 shares during the period. Plato Investment Management Ltd lifted its stake in shares of Carvana by 135.5% during the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock worth $1,062,000 after purchasing an additional 2,994 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock worth $97,305,000 after buying an additional 130,942 shares during the period. Finally, Oak Thistle LLC grew its stake in shares of Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after buying an additional 1,738 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 50,000 shares of the 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 completion of the transaction, the chief operating officer now owns 196,278 shares in the company, valued at $35,033,660.22. This represents a 20.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,784 shares of company stock worth $27,524,344. Insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of CVNA opened at $186.28 on Tuesday. Carvana Co. has a 12 month low of $67.61 and a 12 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 stock has a fifty day moving average price of $228.89 and a 200 day moving average price of $214.54. The company has a market cap of $39.71 billion, a P/E ratio of 118.65 and a beta of 3.56.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS 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 analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wedbush set a $250.00 price target on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Evercore ISI reduced their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird raised their price target on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company cut their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 target price on shares of Carvana in a research report on Friday, March 7th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.71.

About Carvana

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.