Barclays PLC grew its stake in shares of Carvana Co (NYSE:CVNA) by 61.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 452,236 shares of the company’s stock after acquiring an additional 171,637 shares during the period. Barclays PLC owned about 0.31% of Carvana worth $14,792,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in CVNA. First Mercantile Trust Co. increased its position in Carvana by 34.1% during the fourth quarter. First Mercantile Trust Co. now owns 3,061 shares of the company’s stock worth $100,000 after buying an additional 779 shares during the last quarter. CX Institutional acquired a new stake in shares of Carvana in the fourth quarter valued at about $106,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Carvana in the fourth quarter valued at about $131,000. Fifth Third Bancorp acquired a new stake in shares of Carvana in the third quarter valued at about $157,000. Finally, Credit Suisse AG acquired a new stake in shares of Carvana in the third quarter valued at about $201,000. Institutional investors own 34.60% of the company’s stock.
In related news, major shareholder Ernest C. Garcia II sold 115,545 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $58.07, for a total value of $6,709,698.15. Following the completion of the transaction, the insider now directly owns 52,937,458 shares of the company’s stock, valued at $3,074,078,186.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 69,800 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.63, for a total transaction of $4,022,574.00. Following the completion of the transaction, the insider now directly owns 52,937,458 shares of the company’s stock, valued at $3,050,785,704.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,900,064 shares of company stock worth $99,573,488. 13.02% of the stock is owned by company insiders.
A number of equities research analysts recently weighed in on the company. Robert W. Baird lifted their target price on Carvana from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Zacks Investment Research upgraded shares of Carvana from a “sell” rating to a “hold” rating in a research note on Monday, March 18th. BMO Capital Markets lifted their target price on shares of Carvana from $35.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Wells Fargo & Co reiterated a “buy” rating and issued a $57.00 target price on shares of Carvana in a research note on Thursday, February 28th. Finally, Morgan Stanley lowered their target price on shares of Carvana from $23.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Carvana has a consensus rating of “Buy” and a consensus target price of $54.73.
Shares of NYSE:CVNA opened at $58.06 on Monday. The company has a current ratio of 2.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.87. Carvana Co has a one year low of $21.76 and a one year high of $72.59. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of -33.56 and a beta of 2.34.
Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.08). Carvana had a negative net margin of 3.16% and a negative return on equity of 21.06%. The firm had revenue of $584.80 million during the quarter, compared to the consensus estimate of $601.14 million. During the same period in the previous year, the company posted ($0.36) earnings per share. The firm’s revenue for the quarter was up 120.6% compared to the same quarter last year. As a group, equities analysts forecast that Carvana Co will post -1.59 EPS for the current fiscal year.
Carvana Company Profile
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company’s proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.