Rhumbline Advisers Buys 26,222 Shares of Carvana Co. (NYSE:CVNA)

Rhumbline Advisers lifted its stake in shares of Carvana Co. (NYSE:CVNA) by 15.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 197,616 shares of the company’s stock after purchasing an additional 26,222 shares during the quarter. Rhumbline Advisers’ holdings in Carvana were worth $40,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC acquired a new position in shares of Carvana during the fourth quarter worth $28,000. ORG Wealth Partners LLC acquired a new position in Carvana in the 4th quarter worth about $34,000. Capital Performance Advisors LLP bought a new position in Carvana in the third quarter valued at about $40,000. Versant Capital Management Inc bought a new position in Carvana in the fourth quarter valued at about $42,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after purchasing an additional 196 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 191,225 shares of the company’s stock, valued at $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,207 shares of company stock worth $31,110,504. Insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CVNA shares. Royal Bank of Canada raised shares of Carvana from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $270.00 to $280.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lifted 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. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Wells Fargo & Company cut their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Jefferies Financial Group increased their target price on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research 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. Based on data from MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and a consensus target price of $249.29.

Carvana Stock Performance

Shares of CVNA stock opened at $285.62 on Tuesday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm has a 50-day moving average of $233.28 and a 200-day moving average of $205.34. Carvana Co. has a one year low of $48.15 and a one year high of $286.38. The company has a market cap of $59.30 billion, a P/E ratio of 28,590.19 and a beta of 3.37.

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.