Rakuten Securities Inc. Grows Position in Carvana Co. (NYSE:CVNA)

Rakuten Securities Inc. grew its stake in shares of Carvana Co. (NYSE:CVNA) by 1,908.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,435 shares of the company’s stock after acquiring an additional 3,264 shares during the period. Rakuten Securities Inc.’s holdings in Carvana were worth $699,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVNA. Fidelis Capital Partners LLC increased its position in shares of Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after purchasing an additional 51 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after purchasing an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after purchasing an additional 74 shares during the last quarter. Great Lakes Advisors LLC increased its position in shares of Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after purchasing an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,629 shares of company stock worth $24,758,919 in the last three months. 17.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVNA. Evercore ISI decreased their price objective on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped 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. Finally, Robert W. Baird increased 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. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $265.65.

Carvana Price Performance

CVNA opened at $172.43 on Wednesday. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The stock has a 50-day moving average price of $230.01 and a 200-day moving average price of $213.89. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The firm has a market cap of $36.76 billion, a PE ratio of 109.83 and a beta of 3.56.

Carvana (NYSE:CVNA) last issued its earnings results 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. The business had revenue of $3.55 billion during 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%. Sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.