Bleakley Financial Group LLC Grows Stock Holdings in Carvana Co. (NYSE:CVNA)

Bleakley Financial Group LLC raised its stake in Carvana Co. (NYSE:CVNA) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,373 shares of the company’s stock after buying an additional 65 shares during the period. Bleakley Financial Group LLC’s holdings in Carvana were worth $483,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying an additional 5,882,656 shares during the period. State Street Corp lifted its position in shares of Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after purchasing an additional 107,610 shares during the period. Geode Capital Management LLC lifted its position in shares of Carvana by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after purchasing an additional 131,059 shares during the period. Whale Rock Capital Management LLC purchased a new stake in shares of Carvana in the 3rd quarter worth approximately $162,953,000. Finally, Holocene Advisors LP lifted its position in shares of Carvana by 108.2% in the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock worth $96,476,000 after purchasing an additional 287,983 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carvana

In other news, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the sale, the insider now directly owns 191,225 shares of the company’s stock, valued at $49,617,150.75. This represents a 18.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 123,845 shares of company stock worth $30,742,656. 17.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Robert W. Baird upped their price target on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised shares of Carvana from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $270.00 to $280.00 in a research report on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Stephens reiterated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.29.

Carvana Trading Up 1.5 %

Shares of Carvana stock opened at $267.96 on Tuesday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana Co. has a 12-month low of $48.15 and a 12-month high of $270.18. The firm has a market capitalization of $55.64 billion, a price-to-earnings ratio of 26,823.12 and a beta of 3.37. The firm’s 50 day simple moving average is $230.95 and its two-hundred day simple moving average is $200.30.

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.