Proficio Capital Partners LLC Purchases New Position in Carvana Co. (NYSE:CVNA)

Proficio Capital Partners LLC purchased a new stake in shares of Carvana Co. (NYSE:CVNA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 116,322 shares of the company’s stock, valued at approximately $23,655,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bleakley Financial Group LLC increased 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 valued at $483,000 after buying an additional 65 shares during the period. Forum Financial Management LP boosted its stake in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Carvana by 0.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock worth $5,657,000 after acquiring an additional 86 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Carvana by 37.6% during the fourth 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.

Carvana Stock Up 4.6 %

Shares of Carvana stock opened at $233.55 on Friday. The company has a market cap of $48.49 billion, a price-to-earnings ratio of 148.76 and a beta of 3.37. The company’s 50 day moving average is $233.08 and its 200 day moving average is $210.96. Carvana Co. has a twelve month low of $67.61 and a twelve month high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

CVNA has been the topic of several research reports. Evercore ISI boosted their price objective on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Needham & Company LLC boosted their price objective on shares of Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Royal Bank of Canada boosted their price objective on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Wedbush set a $250.00 target price on shares of Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $265.06.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares of the company’s stock, valued at approximately $48,402,338.27. This represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the company’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 approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 173,629 shares of company stock valued at $44,833,799. Insiders own 17.12% of the company’s stock.

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.