Daiwa Securities Group Inc. Increases Stock Holdings in Carvana Co. (NYSE:CVNA)

Daiwa Securities Group Inc. boosted its stake in Carvana Co. (NYSE:CVNA) by 700.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,200 shares of the company’s stock after purchasing an additional 9,800 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Carvana were worth $2,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CVNA. Quent Capital LLC purchased a new stake in Carvana in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC raised its stake in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Carvana in the fourth quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new stake in Carvana in the fourth quarter valued at approximately $34,000. Finally, Versant Capital Management Inc bought a new position in Carvana during the fourth quarter valued at approximately $42,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of CVNA stock opened at $181.37 on Friday. The stock has a fifty day moving average of $228.94 and a 200 day moving average of $213.48. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84. The firm has a market capitalization of $38.66 billion, a price-to-earnings ratio of 115.52 and a beta of 3.56. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS 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 company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. As a group, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVNA. Royal Bank of Canada increased their price target on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company reduced their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Citigroup increased their price target on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Bank of America reduced their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Robert W. Baird increased their price target on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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 firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction 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 directly owns 153,240 shares of the company’s stock, valued at $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 valued at $18,599,844. 17.12% of the stock is currently owned by company 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.