World Investment Advisors Has $2.56 Million Stock Holdings in Carvana Co. (NYSE:CVNA)

World Investment Advisors lifted its position in Carvana Co. (NYSE:CVNA) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,585 shares of the company’s stock after buying an additional 1,045 shares during the quarter. World Investment Advisors’ holdings in Carvana were worth $2,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CVNA. Whale Rock Capital Management LLC bought a new position in Carvana in the 3rd quarter worth $162,953,000. Norges Bank bought a new position in shares of Carvana in the fourth quarter worth about $179,364,000. Vanguard Group Inc. lifted its position in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after purchasing an additional 610,234 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in Carvana by 1,454.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after buying an additional 503,824 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Carvana in the 4th quarter valued at approximately $86,636,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Down 10.6 %

Shares of CVNA opened at $162.54 on Friday. The company has a market capitalization of $34.65 billion, a P/E ratio of 103.53 and a beta of 3.61. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The business’s 50 day simple moving average is $223.47 and its 200-day simple moving average is $218.92. 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 earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.32 billion. As a group, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CVNA shares. Needham & Company LLC reissued a “buy” rating and issued a $340.00 price objective on shares of Carvana in a research report on Friday, March 7th. Evercore ISI reduced their price target on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Royal Bank of Canada raised their price target on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Citigroup upped their price objective 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. Finally, Wedbush set a $250.00 target price on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average price target of $258.59.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 219,962 shares in the company, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction dated 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 directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,810 shares of company stock worth $61,698,820. 17.12% of the stock is currently owned by corporate insiders.

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.