Sumitomo Mitsui DS Asset Management Company Ltd Invests $2.09 Million in Carvana Co. (NYSE:CVNA)

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Carvana Co. (NYSE:CVNA) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 10,281 shares of the company’s stock, valued at approximately $2,091,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Wealth Partners LLC acquired a new position in Carvana in the fourth quarter valued at about $34,000. Versant Capital Management Inc bought a new position in shares of Carvana during the 4th quarter valued at about $42,000. Capital Performance Advisors LLP acquired a new position in shares of Carvana in the 3rd quarter valued at approximately $40,000. First Horizon Advisors Inc. increased its stake in Carvana by 363.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after purchasing an additional 196 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Carvana by 37.6% during the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock worth $65,000 after buying an additional 88 shares during the period. Institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CVNA shares. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Carvana in a research report on Thursday, February 6th. JPMorgan Chase & Co. increased their target price on Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler boosted their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird increased their price objective on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $330.00 target price on shares of Carvana in a research note on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $249.29.

Carvana Stock Up 1.5 %

Shares of CVNA stock opened at $267.96 on Tuesday. Carvana Co. has a 52-week low of $48.15 and a 52-week high of $270.18. The stock has a market cap of $55.64 billion, a price-to-earnings ratio of 26,823.12 and a beta of 3.37. The firm’s 50-day moving average is $230.95 and its 200-day moving average is $200.30. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.

Insiders Place Their Bets

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 123,845 shares of company stock valued at $30,742,656 over the last 90 days. 17.12% of the stock is currently owned by insiders.

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.