Great Lakes Advisors LLC Increases Holdings in Carvana Co. (NYSE:CVNA)

Great Lakes Advisors LLC grew its holdings in shares of Carvana Co. (NYSE:CVNA) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,698 shares of the company’s stock after purchasing an additional 77 shares during the quarter. Great Lakes Advisors LLC’s holdings in Carvana were worth $752,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. FMR LLC increased its holdings in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the last quarter. Lingotto Investment Management LLP increased its holdings in Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after acquiring an additional 57,215 shares during the last quarter. State Street Corp boosted its stake in Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after purchasing an additional 107,610 shares during the period. Geode Capital Management LLC boosted its stake in Carvana by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after purchasing an additional 131,059 shares during the period. Finally, Whale Rock Capital Management LLC bought a new position in Carvana in the 3rd quarter worth about $162,953,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Up 8.8 %

Shares of CVNA opened at $181.37 on Monday. The firm has a market cap of $38.66 billion, a P/E ratio of 115.52 and a beta of 3.56. The stock has a 50 day simple moving average of $228.94 and a two-hundred day simple moving average of $214.28. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84.

Carvana (NYSE:CVNA) last announced its quarterly earnings data 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 firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on CVNA shares. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Wells Fargo & Company cut their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. DA Davidson raised their target price on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Wedbush set a $250.00 price target on Carvana and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.71.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,784 shares of company stock worth $18,599,844. 17.12% of the stock is currently owned by insiders.

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.