SBI Securities Co. Ltd. Makes New Investment in Carvana Co. (NYSE:CVNA)

SBI Securities Co. Ltd. bought a new position in Carvana Co. (NYSE:CVNA) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 717 shares of the company’s stock, valued at approximately $146,000.

A number of other large investors have also added to or reduced their stakes in CVNA. Wealth Enhancement Advisory Services LLC bought a new position in Carvana in the third quarter worth about $377,000. QRG Capital Management Inc. increased its holdings in shares of Carvana by 16.2% during the third quarter. QRG Capital Management Inc. now owns 6,713 shares of the company’s stock valued at $1,169,000 after acquiring an additional 935 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Carvana during the third quarter valued at about $40,000. Sigma Planning Corp acquired a new position in shares of Carvana during the third quarter valued at about $228,000. Finally, Axxcess Wealth Management LLC acquired a new position in shares of Carvana during the third quarter valued at about $784,000. 56.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the transaction, the insider now directly owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the transaction, the chief financial officer now directly owns 189,097 shares of the company’s stock, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,629 shares of company stock worth $30,866,419 in the last quarter. Corporate insiders own 17.18% of the company’s stock.

Carvana Trading Up 0.7 %

Carvana stock opened at $188.19 on Friday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. The stock’s 50 day simple moving average is $231.95 and its two-hundred day simple moving average is $212.64. The firm has a market cap of $40.11 billion, a PE ratio of 119.86 and a beta of 3.56.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday. Evercore ISI upped their target price on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada upped their target price on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $265.94.

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.