5,156 Shares in Carvana Co. (NYSE:CVNA) Acquired by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,156 shares of the company’s stock, valued at approximately $1,049,000.

Other hedge funds have also recently made changes to their positions in the company. Quent Capital LLC purchased a new position in shares of Carvana in the fourth quarter worth about $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% during the 4th 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 last quarter. Rialto Wealth Management LLC purchased a new position in Carvana in the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC bought a new stake in Carvana in the fourth quarter valued at approximately $34,000. Finally, Versant Capital Management Inc bought a new stake in Carvana in the fourth quarter valued at approximately $42,000. 56.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CVNA shares. Wells Fargo & Company lowered their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. DA Davidson upped their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Bank of America cut their target price on Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Citigroup upped their price target on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price objective on Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $262.71.

Carvana Stock Up 3.2 %

Carvana stock opened at $191.38 on Friday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a fifty day simple moving average of $227.57 and a two-hundred day simple moving average of $214.47. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. The firm has a market cap of $40.80 billion, a price-to-earnings ratio of 121.90 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, beating the consensus estimate of $0.29 by $0.27. The firm 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%. Equities analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the transaction, the chief financial officer now owns 219,962 shares in the company, valued at approximately $55,016,895.44. The trade was a 4.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,784 shares of company stock valued at $27,524,344 in the last 90 days. Company insiders own 17.12% of the company’s stock.

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.