Pictet Asset Management Holding SA Has $8.93 Million Stock Holdings in Carvana Co. (NYSE:CVNA)

Pictet Asset Management Holding SA grew its stake in Carvana Co. (NYSE:CVNA) by 215.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,920 shares of the company’s stock after acquiring an additional 30,013 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Carvana were worth $8,932,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Carvana by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock worth $94,148,000 after purchasing an additional 39,089 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Carvana by 135.5% during the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock worth $1,062,000 after buying an additional 2,994 shares in the last quarter. Oak Thistle LLC boosted its position in shares of Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after acquiring an additional 1,738 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock valued at $97,305,000 after acquiring an additional 130,942 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Carvana by 33.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock worth $77,807,000 after acquiring an additional 95,497 shares during the period. Institutional investors own 56.71% of the company’s stock.

Insider Activity

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now directly owns 153,240 shares of the company’s stock, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 280,810 shares of company stock valued at $61,698,820 over the last quarter. 17.12% of the stock is owned by company insiders.

Carvana Stock Up 6.3 %

Shares of NYSE:CVNA opened at $226.07 on Thursday. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84. The company has a market capitalization of $48.19 billion, a PE ratio of 143.99 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a fifty day moving average of $226.26 and a 200-day moving average of $219.11.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (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. On average, equities analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. Robert W. Baird increased their price target on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Citigroup lifted their price objective on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday, February 21st. DA Davidson increased their target price on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “overweight” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.