USA Financial Formulas Has $302,000 Stake in Carvana Co. (NYSE:CVNA)

USA Financial Formulas decreased its stake in Carvana Co. (NYSE:CVNA) by 18.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,486 shares of the company’s stock after selling 339 shares during the period. USA Financial Formulas’ holdings in Carvana were worth $302,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in Carvana by 33.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock worth $77,807,000 after purchasing an additional 95,497 shares in the last quarter. Oak Thistle LLC boosted its stake in Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock worth $658,000 after purchasing an additional 1,738 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Carvana in the fourth quarter worth $34,000. Diversified Trust Co boosted its stake in Carvana by 123.4% in the fourth quarter. Diversified Trust Co now owns 4,848 shares of the company’s stock worth $986,000 after purchasing an additional 2,678 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new position in Carvana in the fourth quarter worth $1,743,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Up 8.3 %

Shares of Carvana stock opened at $231.83 on Friday. Carvana Co. has a 1 year low of $40.21 and a 1 year high of $268.34. The business has a 50-day moving average of $232.25 and a two-hundred day moving average of $185.19. The company has a market capitalization of $48.13 billion, a P/E ratio of 23,206.01 and a beta of 3.38. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The firm’s revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. As a group, equities analysts predict that Carvana Co. will post 0.88 EPS for the current year.

Analysts Set New Price Targets

CVNA has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Robert W. Baird upped their price target on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Bank of America upped their price target on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada raised Carvana from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $270.00 to $280.00 in a research note on Tuesday, January 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average price target of $241.94.

Insider Activity at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $190.79, for a total value of $19,079,000.00. Following the sale, the insider now owns 37,658,131 shares of the company’s stock, valued at approximately $7,184,794,813.49. This trade represents a 0.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the sale, the chief financial officer now directly owns 189,097 shares in the company, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 651,908 shares of company stock valued at $142,079,285. 17.18% of the stock is owned by insiders.

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.