Swiss National Bank Raises Position in Carvana Co. (NYSE:CVNA)

Swiss National Bank increased its position in shares of Carvana Co. (NYSE:CVNA) by 54.8% in the 4th quarter, HoldingsChannel reports. The firm owned 321,800 shares of the company’s stock after purchasing an additional 113,900 shares during the period. Swiss National Bank’s holdings in Carvana were worth $65,441,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of Carvana during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC boosted its stake in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in Carvana during the fourth quarter worth $31,000. ORG Wealth Partners LLC purchased a new position in Carvana in the fourth quarter worth $34,000. Finally, Versant Capital Management Inc acquired a new stake in Carvana in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CVNA shares. Evercore ISI cut their price target on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Robert W. Baird upped their target price on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Stephens reiterated an “overweight” rating and set a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Royal Bank of Canada upped their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Wedbush set a $250.00 price objective on Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $262.71.

Insider Activity

In other Carvana news, CFO Mark W. Jenkins sold 20,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the completion of the sale, the chief financial officer now owns 199,962 shares of the company’s stock, valued at approximately $55,125,524.16. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,784 shares of company stock valued at $18,599,844 in the last 90 days. 17.12% of the stock is currently owned by insiders.

Carvana Stock Up 8.8 %

CVNA stock opened at $181.37 on Friday. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The stock has a market capitalization of $38.66 billion, a P/E ratio of 115.52 and a beta of 3.56. The company has a 50 day moving average price of $228.94 and a two-hundred day moving average price of $213.86. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.32 billion. As a group, sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current year.

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.