ClariVest Asset Management LLC Purchases New Shares in Carvana Co. (NYSE:CVNA)

ClariVest Asset Management LLC acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,238 shares of the company’s stock, valued at approximately $1,189,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVNA. Vanguard Group Inc. grew its position in shares of Carvana by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after purchasing an additional 2,112,463 shares in the last quarter. First Trust Advisors LP increased its position in shares of Carvana by 17.1% in the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after purchasing an additional 216,893 shares during the period. Goodnow Investment Group LLC raised its stake in Carvana by 1.6% in the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after purchasing an additional 23,140 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Carvana by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after purchasing an additional 53,318 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Evercore ISI decreased their target price on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. Wedbush raised shares of Carvana to a “neutral” rating and lifted their price objective for the company from $120.00 to $150.00 in a research note on Monday, August 19th. JMP Securities restated a “market outperform” rating and set a $200.00 target price on shares of Carvana in a research note on Monday. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and lifted their price target for the company from $166.00 to $170.00 in a research note on Monday, August 19th. Finally, Needham & Company LLC upped their price objective on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Carvana has a consensus rating of “Hold” and a consensus target price of $148.40.

Carvana Stock Up 2.3 %

Shares of NYSE:CVNA opened at $133.68 on Thursday. The firm has a market cap of $27.66 billion, a P/E ratio of 58.63 and a beta of 3.43. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $159.85. The business has a fifty day simple moving average of $139.17 and a 200 day simple moving average of $111.46. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $124.08, for a total value of $6,824,400.00. Following the sale, the chief financial officer now directly owns 186,580 shares in the company, valued at $23,150,846.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $124.08, for a total value of $6,824,400.00. Following the transaction, the chief financial officer now owns 186,580 shares in the company, valued at approximately $23,150,846.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Taira sold 68,556 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the completion of the sale, the insider now directly owns 186,397 shares in the company, valued at $19,150,427.78. The disclosure for this sale can be found here. Insiders sold 2,690,422 shares of company stock worth $359,827,927 over the last ninety days. 17.12% of the stock is owned by 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.