Cibc World Markets Corp Takes $1.05 Million Position in Carvana Co. (NYSE:CVNA)

Cibc World Markets Corp bought a new position in Carvana Co. (NYSE:CVNA) during the 4th quarter, Holdings Channel.com reports. The fund bought 5,156 shares of the company’s stock, valued at approximately $1,049,000.

Other institutional investors also recently bought and sold shares of the company. Quent Capital LLC purchased a new stake in Carvana in the 4th quarter worth $28,000. Global Retirement Partners LLC increased its holdings in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Carvana in the fourth quarter worth about $31,000. ORG Wealth Partners LLC bought a new position in Carvana during the fourth quarter valued at approximately $34,000. Finally, Versant Capital Management Inc purchased a new position in Carvana during the 4th quarter valued at approximately $42,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $191.38 on Friday. The firm’s 50 day simple moving average is $227.57 and its 200-day simple moving average is $214.47. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The firm has a market cap of $40.80 billion, a PE ratio of 121.90 and a beta of 3.56.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share 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 analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, equities analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CVNA shares. JPMorgan Chase & Co. upped 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. Robert W. Baird upped their price target on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. William Blair reissued an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Wells Fargo & Company reduced their target price 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, Wedbush set a $250.00 price target on shares of Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.71.

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the business’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 completion of the transaction, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the transaction, the chief operating officer now owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. This trade represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,784 shares of company stock valued at $27,524,344. Company insiders own 17.12% of the company’s stock.

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.