Everence Capital Management Inc. Acquires New Holdings in Carvana Co. (NYSE:CVNA)

Everence Capital Management Inc. bought a new position in shares of Carvana Co. (NYSE:CVNA) in the fourth quarter, HoldingsChannel reports. The firm bought 2,820 shares of the company’s stock, valued at approximately $573,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sugarloaf Wealth Management LLC acquired a new stake in shares of Carvana during the third quarter valued at $32,000. Capital Performance Advisors LLP purchased a new position in shares of Carvana during the third quarter valued at approximately $40,000. Versant Capital Management Inc purchased a new position in shares of Carvana during the fourth quarter valued at approximately $42,000. First Horizon Advisors Inc. grew its stake in Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after acquiring an additional 196 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush upped their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Stephens reissued an “overweight” rating and set a $300.00 target price on shares of Carvana in a research report on Thursday. Finally, Robert W. Baird boosted their price objective on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $229.18.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $180.49, for a total transaction of $18,049,000.00. Following the sale, the insider now directly owns 38,658,131 shares in the company, valued at approximately $6,977,406,064.19. This represents a 0.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 208,495 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $224.43, for a total value of $46,792,532.85. Following the completion of the sale, the chief financial officer now directly owns 90,732 shares in the company, valued at approximately $20,362,982.76. This trade represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,251,908 shares of company stock valued at $255,943,285. Company insiders own 17.18% of the company’s stock.

Carvana Trading Down 11.2 %

NYSE CVNA opened at $177.16 on Friday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. Carvana Co. has a 12 month low of $40.21 and a 12 month high of $268.34. The company’s fifty day moving average price is $236.67 and its two-hundred day moving average price is $180.94. The company has a market capitalization of $36.78 billion, a price-to-earnings ratio of 17,733.73 and a beta of 3.32.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. As a group, research analysts predict that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Carvana 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.