Rakuten Securities Inc. Buys 3,264 Shares of Carvana Co. (NYSE:CVNA)

Rakuten Securities Inc. increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 1,908.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,435 shares of the company’s stock after purchasing an additional 3,264 shares during the period. Rakuten Securities Inc.’s holdings in Carvana were worth $699,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Eagle Asset Management Inc. acquired a new stake in Carvana in the 3rd quarter valued at approximately $50,531,000. Plato Investment Management Ltd raised its position in Carvana by 135.5% in the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock valued at $1,062,000 after buying an additional 2,994 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Carvana by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock valued at $94,148,000 after buying an additional 39,089 shares during the last quarter. Oak Thistle LLC raised its position in Carvana by 115.9% in the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after buying an additional 1,738 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Carvana by 37.7% in the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock valued at $97,305,000 after buying an additional 130,942 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CVNA shares. Citigroup boosted their price target on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company lowered their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. DA Davidson lifted their target price on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Stephens reiterated an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $265.65.

Insider Activity

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction 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 transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $63,536,023.70. The trade was a 11.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,629 shares of company stock worth $24,758,919 in the last quarter. 17.12% of the stock is owned by corporate insiders.

Carvana Stock Up 0.5 %

NYSE:CVNA opened at $172.43 on Wednesday. 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 Co. has a one year low of $67.61 and a one year high of $292.84. The firm’s 50 day simple moving average is $230.01 and its 200 day simple moving average is $213.89. The company has a market cap of $36.76 billion, a PE ratio of 109.83 and a beta of 3.56.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

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.