Vestcor Inc Purchases Shares of 2,202 Carvana Co. (NYSE:CVNA)

Vestcor Inc acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,202 shares of the company’s stock, valued at approximately $448,000.

Several other institutional investors have also modified their holdings of CVNA. Quent Capital LLC purchased a new stake in Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Carvana in the 4th quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in Carvana during the 4th quarter worth $34,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Carvana in the 4th quarter worth $42,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated 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 directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of Carvana 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 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 disclosure for this sale can be found here. Insiders have sold 119,784 shares of company stock valued at $27,524,344 in the last ninety days. Insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVNA. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Robert W. Baird boosted their target price on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their target price on Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Evercore ISI decreased their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. Finally, Wedbush set a $250.00 price objective on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.71.

Carvana Price Performance

CVNA stock opened at $186.28 on Tuesday. 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 stock’s 50 day moving average price is $228.89 and its 200 day moving average price is $214.54. The firm has a market cap of $39.71 billion, a P/E ratio of 118.65 and a beta of 3.56. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share 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.