Treasurer of the State of North Carolina Has $9.97 Million Stake in Carvana Co. (NYSE:CVNA)

Treasurer of the State of North Carolina lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,040 shares of the company’s stock after purchasing an additional 1,760 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Carvana were worth $9,973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CVNA. Quent Capital LLC bought a new position in Carvana in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC raised its holdings in shares of 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. Rialto Wealth Management LLC bought a new stake in Carvana in the 4th quarter valued at $31,000. ORG Wealth Partners LLC acquired a new position in Carvana in the 4th quarter worth $34,000. Finally, Versant Capital Management Inc bought a new position in Carvana during the 4th quarter worth about $42,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now owns 153,240 shares of the company’s stock, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the completion of the sale, the chief operating officer now directly owns 123,803 shares in the company, valued at $18,681,872.70. This represents a 28.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 330,810 shares of company stock worth $69,243,820 over the last quarter. 16.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on CVNA shares. Wedbush set a $250.00 price target on Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Stephens reaffirmed an “overweight” rating and set a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. DA Davidson boosted their price objective on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Bank of America decreased their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Evercore ISI cut their price target 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. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $253.59.

Carvana Trading Up 1.6 %

Shares of CVNA stock opened at $206.91 on Friday. 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 company has a market capitalization of $44.11 billion, a price-to-earnings ratio of 131.79 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 50-day simple moving average of $216.20 and a two-hundred day simple moving average of $220.23.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.