299,300 Shares in Carvana Co. (NYSE:CVNA) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Carvana Co. (NYSE:CVNA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 299,300 shares of the company’s stock, valued at approximately $60,866,000. Raymond James Financial Inc. owned 0.14% of Carvana at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CVNA. FMR LLC raised its holdings in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares during the period. Whale Rock Capital Management LLC acquired a new position in Carvana in the 3rd quarter worth about $162,953,000. Lord Abbett & CO. LLC raised its holdings in Carvana by 1,454.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock worth $93,754,000 after purchasing an additional 503,824 shares during the period. Eagle Asset Management Inc. acquired a new position in Carvana in the 3rd quarter worth about $50,531,000. Finally, Holocene Advisors LP raised its holdings in Carvana by 108.2% in the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock worth $96,476,000 after purchasing an additional 287,983 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity

In related news, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 151,029 shares of the company’s stock, valued at $37,440,089.10. This represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,629 shares of company stock valued at $24,758,919. Company insiders own 17.12% of the company’s stock.

Carvana Stock Performance

NYSE:CVNA opened at $171.47 on Tuesday. 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 has a market capitalization of $36.55 billion, a price-to-earnings ratio of 109.21 and a beta of 3.56. The company’s 50-day moving average is $230.63 and its two-hundred day moving average is $213.80. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

CVNA has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. DA Davidson increased their target price on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Royal Bank of Canada increased their target price on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wedbush set a $250.00 target price on Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Citigroup raised their price target on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $265.94.

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.