Carvana Co. (NYSE:CVNA) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. boosted its holdings in Carvana Co. (NYSE:CVNA) by 204.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 405,462 shares of the company’s stock after buying an additional 272,114 shares during the period. Prudential Financial Inc.’s holdings in Carvana were worth $82,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after acquiring an additional 610,234 shares during the period. LPL Financial LLC raised its position in Carvana by 7.7% in the fourth quarter. LPL Financial LLC now owns 42,745 shares of the company’s stock valued at $8,693,000 after purchasing an additional 3,067 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Carvana during the fourth quarter worth about $391,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Carvana in the fourth quarter worth about $7,728,000. Finally, Sei Investments Co. grew its stake in shares of Carvana by 83.9% in the fourth quarter. Sei Investments Co. now owns 25,918 shares of the company’s stock valued at $5,270,000 after buying an additional 11,826 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $55,016,895.44. The trade was a 4.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the firm’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 completion of the sale, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,784 shares of company stock worth $27,524,344 in the last three months. 17.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVNA. Piper Sandler raised Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price target on the stock in a research report on Thursday, March 20th. Bank of America decreased their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. DA Davidson lifted their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Wedbush set a $250.00 price objective on shares of Carvana and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird lifted their target price on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.71.

Carvana Trading Up 11.9 %

Carvana stock opened at $213.61 on Tuesday. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The firm’s 50-day moving average is $227.95 and its 200-day moving average is $215.96. 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 market cap of $45.53 billion, a P/E ratio of 136.06 and a beta of 3.56.

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. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, equities analysts expect 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.