174,900 Shares in Carvana Co. (NYSE:CVNA) Acquired by Primecap Management Co. CA

Primecap Management Co. CA bought a new position in shares of Carvana Co. (NYSE:CVNA) in the 4th quarter, HoldingsChannel.com reports. The firm bought 174,900 shares of the company’s stock, valued at approximately $35,568,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC lifted its stake in Carvana by 5.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 4,759 shares of the company’s stock worth $968,000 after purchasing an additional 255 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Carvana in the fourth quarter valued at approximately $270,000. Cibc World Markets Corp purchased a new stake in Carvana in the fourth quarter valued at approximately $1,049,000. Envestnet Portfolio Solutions Inc. lifted its stake in Carvana by 19.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,468 shares of the company’s stock valued at $299,000 after buying an additional 236 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in Carvana by 5.2% in the fourth quarter. Natixis Advisors LLC now owns 85,111 shares of the company’s stock valued at $17,308,000 after buying an additional 4,226 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Down 10.6 %

Shares of CVNA stock opened at $166.65 on Wednesday. The business’s fifty day moving average price is $228.25 and its 200 day moving average price is $214.65. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The firm has a market capitalization of $35.52 billion, a PE ratio of 106.14 and a beta of 3.56. 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 (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.32 billion. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the company’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 of the company’s stock, valued at approximately $55,016,895.44. This represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,784 shares of company stock valued at $27,524,344. Insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research note on Monday, March 3rd. Robert W. Baird boosted their price objective on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Royal Bank of Canada boosted their price objective on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wedbush set a $250.00 price target on Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $262.71.

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.