Prakash Investment Advisors LLC Takes Position in Carvana Co. (NYSE:CVNA)

Prakash Investment Advisors LLC purchased a new stake in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,960 shares of the company’s stock, valued at approximately $602,000. Carvana accounts for approximately 0.6% of Prakash Investment Advisors LLC’s investment portfolio, making the stock its 25th largest holding.

A number of other large investors also recently modified their holdings of CVNA. Bleakley Financial Group LLC grew its holdings in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after acquiring an additional 65 shares during the period. Forum Financial Management LP grew its holdings in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares during the period. Global Retirement Partners LLC grew its holdings in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares during the period. Nisa Investment Advisors LLC grew its holdings in Carvana by 0.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock worth $5,657,000 after acquiring an additional 86 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Carvana by 37.6% during the fourth quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock worth $65,000 after acquiring an additional 88 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares in the company, valued at approximately $48,402,338.27. The trade was a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the sale, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,629 shares of company stock valued at $44,833,799. 17.12% of the stock is owned by corporate insiders.

Carvana Trading Down 12.0 %

NYSE:CVNA opened at $248.03 on Friday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. Carvana Co. has a fifty-two week low of $48.15 and a fifty-two week high of $292.84. The stock’s 50-day moving average is $234.85 and its two-hundred day moving average is $207.18. The stock has a market cap of $51.50 billion, a PE ratio of 24,827.83 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $3.32 billion. As a group, equities research analysts forecast that Carvana Co. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CVNA shares. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 target price on shares of Carvana in a report on Monday, December 16th. Robert W. Baird lifted their target price on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Needham & Company LLC increased their price target on Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $259.00.

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.