Canada Pension Plan Investment Board Grows Holdings in Carvana Co. (NYSE:CVNA)

Canada Pension Plan Investment Board lifted its position in shares of Carvana Co. (NYSE:CVNA) by 70.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,812 shares of the company’s stock after acquiring an additional 44,644 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Carvana were worth $21,925,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CVNA. Norges Bank purchased a new position in Carvana during the fourth quarter worth approximately $179,364,000. Vanguard Group Inc. lifted its position in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after buying an additional 610,234 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in Carvana by 1,454.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after acquiring an additional 503,824 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Carvana during the fourth quarter worth $86,636,000. Finally, Raymond James Financial Inc. purchased a new position in Carvana during the fourth quarter valued at $60,866,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVNA. Bank of America decreased their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company reduced their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada increased their target price on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “overweight” rating in a research note on Monday, March 31st. Finally, Stephens restated an “overweight” rating and set a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and an average target price of $253.59.

Insider Transactions at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 43,433 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the sale, the chief financial officer now directly owns 214,678 shares in the company, valued at $44,925,665.06. This trade represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now owns 196,278 shares in the company, valued at approximately $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 have sold 330,810 shares of company stock valued at $69,243,820. 17.12% of the stock is currently owned by company insiders.

Carvana Price Performance

CVNA stock opened at $211.03 on Friday. The business’s fifty day moving average price is $210.77 and its 200 day moving average price is $221.50. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a market capitalization of $44.99 billion, a PE ratio of 134.42 and a beta of 3.61. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last announced 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 analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

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.