Allstate Corp Acquires Shares of 3,329 Carvana Co. (NYSE:CVNA)

Allstate Corp bought a new position in Carvana Co. (NYSE:CVNA) during the 4th quarter, Holdings Channel reports. The institutional investor bought 3,329 shares of the company’s stock, valued at approximately $677,000.

Other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in Carvana by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 4,215 shares of the company’s stock worth $734,000 after purchasing an additional 2,234 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Carvana in the third quarter worth about $244,000. Townsquare Capital LLC bought a new position in shares of Carvana in the third quarter worth approximately $282,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Carvana by 13.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,140 shares of the company’s stock valued at $3,332,000 after buying an additional 2,243 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Carvana during the third quarter valued at approximately $1,772,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Up 2.3 %

NYSE:CVNA opened at $209.15 on Tuesday. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The business has a fifty day moving average price of $226.82 and a 200-day moving average price of $218.57. The firm has a market capitalization of $44.58 billion, a price-to-earnings ratio of 133.21 and a beta of 3.56. 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 issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This represents a 11.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.35, for a total value of $10,517,500.00. Following the completion of the sale, the chief operating officer now owns 146,278 shares of the company’s stock, valued at $30,769,577.30. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,377 shares of company stock worth $44,251,096. Company insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVNA. Stephens reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Robert W. Baird lifted their price objective on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Wedbush set a $250.00 target price on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, DA Davidson raised their price target on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $261.53.

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.