Nomura Asset Management Co. Ltd. Purchases New Stake in Carvana Co. (NYSE:CVNA)

Nomura Asset Management Co. Ltd. acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 34,751 shares of the company’s stock, valued at approximately $7,067,000.

Several other large investors also recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new position in shares of Carvana during the 4th quarter valued at about $28,000. Global Retirement Partners LLC raised its stake in Carvana by 109.9% during 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 period. Rialto Wealth Management LLC acquired a new position in Carvana in the 4th quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Carvana in the 4th quarter valued at approximately $34,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Carvana during the 4th quarter worth approximately $42,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the sale, the chief operating officer now owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,377 shares of company stock worth $44,251,096. 17.12% of the stock is currently owned by corporate insiders.

Carvana Price Performance

Shares of NYSE CVNA opened at $209.15 on Tuesday. 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 company has a market cap of $44.58 billion, a price-to-earnings ratio of 133.21 and a beta of 3.56. The stock’s 50-day moving average is $226.82 and its two-hundred day moving average is $218.57. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84.

Carvana (NYSE:CVNA) last released 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. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVNA. Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Citigroup upped their price target on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Evercore ISI reduced their price objective on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, March 11th. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “overweight” rating in a research note on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $340.00 price target on shares of Carvana in a research note on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.53.

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.