Geode Capital Management LLC Has $381.59 Million Stock Position in Carvana Co. (NYSE:CVNA)

Geode Capital Management LLC increased its position in shares of Carvana Co. (NYSE:CVNA) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,878,796 shares of the company’s stock after buying an additional 75,250 shares during the period. Geode Capital Management LLC’s holdings in Carvana were worth $381,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CVNA. Cerity Partners LLC increased its holdings in Carvana by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 4,215 shares of the company’s stock valued at $734,000 after buying an additional 2,234 shares during the period. Townsquare Capital LLC acquired a new stake in shares of Carvana during the 3rd quarter valued at about $282,000. Rockefeller Capital Management L.P. bought a new stake in Carvana in the third quarter valued at about $1,772,000. Captrust Financial Advisors acquired a new position in Carvana in the third quarter worth about $270,000. Finally, Centiva Capital LP bought a new position in Carvana during the third quarter worth about $555,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Down 10.6 %

NYSE CVNA opened at $162.54 on Friday. The stock has a market capitalization of $34.65 billion, a P/E ratio of 103.53 and a beta of 3.61. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84. 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 fifty day moving average of $223.47 and a 200-day moving average of $218.92.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. On average, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Bank of America cut their target price on Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. cut their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Wedbush set a $250.00 target price on shares of Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and set a $340.00 price target on shares of Carvana in a report on Friday, March 7th. Finally, Evercore ISI decreased their price objective on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $258.59.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This represents a 20.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the transaction, the insider now directly owns 179,673 shares in the company, valued at $40,431,815.19. The trade was a 13.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 280,810 shares of company stock valued at $61,698,820 over the last ninety days. Insiders own 17.12% of the company’s stock.

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.