Alberta Investment Management Corp Invests $3.52 Million in Carvana Co. (NYSE:CVNA)

Alberta Investment Management Corp purchased a new position in shares of Carvana Co. (NYSE:CVNA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,300 shares of the company’s stock, valued at approximately $3,518,000.

A number of other large investors also recently bought and sold shares of CVNA. Bleakley Financial Group LLC lifted its position in shares of Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after purchasing an additional 65 shares during the last quarter. Forum Financial Management LP increased its stake in Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after buying an additional 76 shares during the period. Global Retirement Partners LLC lifted its holdings in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Carvana by 0.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock valued at $5,657,000 after buying an additional 86 shares during the period. Finally, Fifth Third Bancorp grew its stake in Carvana by 37.6% in the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock worth $65,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of several research analyst reports. Needham & Company LLC lifted their price target on shares of Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird lifted their target price on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a report on Thursday, February 6th. Royal Bank of Canada raised their price target on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Carvana Trading Down 12.0 %

NYSE:CVNA opened at $248.03 on Friday. The stock has a market capitalization of $51.50 billion, a price-to-earnings ratio of 24,827.83 and a beta of 3.37. Carvana Co. has a 52 week low of $48.15 and a 52 week high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The firm has a 50 day moving average of $234.85 and a 200 day moving average of $207.18.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. As a group, sell-side analysts anticipate that Carvana Co. will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan S. Keeton sold 24,845 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the transaction, the insider now directly owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 173,629 shares of company stock worth $44,833,799. 17.12% of the stock is owned by 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.