Sumitomo Mitsui Trust Group Inc. Acquires 216,736 Shares of Carvana Co. (NYSE:CVNA)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Carvana Co. (NYSE:CVNA) by 8,600.6% in the 4th quarter, Holdings Channel reports. The fund owned 219,256 shares of the company’s stock after purchasing an additional 216,736 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Carvana were worth $44,588,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. ORG Wealth Partners LLC acquired a new position in shares of Carvana in the 4th quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new position in Carvana in the third quarter valued at approximately $40,000. Versant Capital Management Inc acquired a new position in shares of Carvana in the fourth quarter valued at approximately $42,000. First Horizon Advisors Inc. increased its position in shares of Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after acquiring an additional 196 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of 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 during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the subject of a number of research analyst reports. Citigroup raised shares of Carvana from a “neutral” rating to a “buy” rating and upped their target price for the stock from $195.00 to $277.00 in a research note on Wednesday, January 8th. Piper Sandler increased their price objective on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird lifted their target price on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price target on shares of Carvana in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group lifted their price objective on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.29.

Carvana Trading Up 1.5 %

Carvana stock opened at $267.96 on Tuesday. The stock has a 50-day simple moving average of $230.95 and a 200 day simple moving average of $200.30. The stock has a market capitalization of $55.64 billion, a P/E ratio of 26,823.12 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana Co. has a 52 week low of $48.15 and a 52 week high of $270.18.

Insider Activity

In other news, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the sale, the insider now owns 191,225 shares in the company, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the transaction, the insider now owns 151,029 shares in the company, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 123,845 shares of company stock valued at $30,742,656 over the last three months. Insiders own 17.12% of the company’s stock.

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.