CANADA LIFE ASSURANCE Co Raises Stock Holdings in Carvana Co. (NYSE:CVNA)

CANADA LIFE ASSURANCE Co raised its stake in shares of Carvana Co. (NYSE:CVNA) by 323.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,095 shares of the company’s stock after acquiring an additional 77,960 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Carvana were worth $20,723,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board lifted its stake in Carvana by 70.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 107,812 shares of the company’s stock worth $21,925,000 after purchasing an additional 44,644 shares in the last quarter. Zacks Investment Management grew its position in Carvana by 8.8% in the 4th quarter. Zacks Investment Management now owns 37,217 shares of the company’s stock valued at $7,568,000 after acquiring an additional 3,000 shares in the last quarter. NewEdge Advisors LLC increased its stake in Carvana by 3.6% during the fourth quarter. NewEdge Advisors LLC now owns 5,261 shares of the company’s stock worth $1,070,000 after purchasing an additional 181 shares during the period. United Capital Financial Advisors LLC boosted its stake in shares of Carvana by 31.3% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,899 shares of the company’s stock valued at $386,000 after purchasing an additional 453 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Carvana by 19.0% in the fourth quarter. Jump Financial LLC now owns 123,832 shares of the company’s stock valued at $25,182,000 after purchasing an additional 19,752 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Price Performance

Shares of CVNA opened at $211.03 on Friday. The company has a market capitalization of $44.99 billion, a price-to-earnings ratio of 134.42 and a beta of 3.61. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The firm has a 50-day simple moving average of $210.77 and a 200-day simple moving average of $221.50. 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 (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. On average, equities research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the 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 of the company’s stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 330,810 shares of company stock valued at $69,243,820. 17.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on CVNA shares. Bank of America dropped their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Piper Sandler upgraded Carvana from a “neutral” rating to an “overweight” rating in a research note on Monday, March 31st. JMP Securities cut their target price on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “overweight” rating in a report on Monday, March 31st. Finally, DA Davidson lifted 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. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus target price of $253.59.

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.