Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Carvana Co. (NYSE:CVNA)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Carvana Co. (NYSE:CVNA) by 34,721.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,438 shares of the company’s stock after purchasing an additional 80,207 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Carvana were worth $16,358,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC increased its position in Carvana by 109.9% during the 4th 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 purchased a new position in Carvana during the fourth quarter valued at $31,000. ORG Wealth Partners LLC bought a new stake in Carvana in the fourth quarter worth $34,000. Finally, Versant Capital Management Inc purchased a new stake in shares of Carvana in the fourth quarter worth $42,000. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

NYSE CVNA opened at $204.40 on Monday. The company has a 50-day moving average price of $227.25 and a 200-day moving average price of $218.09. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a market capitalization of $43.57 billion, a P/E ratio of 130.19 and a beta of 3.56.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Equities research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the sale, the chief operating officer now owns 196,278 shares in the company, valued at approximately $35,033,660.22. This trade represents a 20.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,377 shares of company stock worth $44,251,096. Corporate insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a report on Monday, December 16th. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Finally, Bank of America decreased their price objective on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 14th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $261.53.

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.