Xponance Inc. Acquires 6,672 Shares of Carvana Co. (NYSE:CVNA)

Xponance Inc. lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 89.5% during the fourth quarter, HoldingsChannel reports. The firm owned 14,126 shares of the company’s stock after purchasing an additional 6,672 shares during the quarter. Xponance Inc.’s holdings in Carvana were worth $2,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CVNA. Empowered Funds LLC bought a new stake in shares of Carvana during the 3rd quarter worth $494,000. First Horizon Advisors Inc. raised its stake in Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after acquiring an additional 196 shares during the period. Intech Investment Management LLC bought a new stake in Carvana in the 3rd quarter valued at about $2,496,000. Eagle Asset Management Inc. bought a new stake in Carvana in the 3rd quarter valued at about $50,531,000. Finally, Cerity Partners LLC raised its stake in Carvana by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 4,215 shares of the company’s stock valued at $734,000 after acquiring an additional 2,234 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,784 shares of company stock valued at $27,524,344. 17.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CVNA shares. Royal Bank of Canada boosted their price objective on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company lowered 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. Bank of America reduced their target price on Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 14th. Wedbush set a $250.00 target price on Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Piper Sandler raised Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 target price for the company in a report on Thursday. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $262.71.

Carvana Stock Up 3.2 %

Shares of NYSE CVNA opened at $191.38 on Friday. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The firm’s 50 day simple moving average is $227.57 and its two-hundred day simple moving average is $214.47. The stock has a market capitalization of $40.80 billion, a P/E ratio of 121.90 and a beta of 3.56.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal 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.