Shell Asset Management Co. Purchases New Shares in Carvana Co. (NYSE:CVNA)

Shell Asset Management Co. purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 570 shares of the company’s stock, valued at approximately $116,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Fidelis Capital Partners LLC increased its holdings in shares of Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after purchasing an additional 51 shares during the period. Bleakley Financial Group LLC boosted its stake in shares of Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after buying an additional 65 shares during the period. EverSource Wealth Advisors LLC grew its position in Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after buying an additional 74 shares in the last quarter. Great Lakes Advisors LLC increased its stake in Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after acquiring an additional 77 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVNA. DA Davidson raised their price target on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Bank of America boosted their target price on shares of Carvana from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Piper Sandler upped their price target on shares of Carvana from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, Evercore ISI lowered their price objective on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $269.18.

Carvana Price Performance

Carvana stock opened at $304.92 on Tuesday. The stock has a 50-day moving average price of $223.22 and a two-hundred day moving average price of $230.75. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $311.88. The company has a market capitalization of $65.30 billion, a PE ratio of 194.22 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the business earned $0.23 EPS. The firm’s quarterly revenue was up 38.3% on a year-over-year basis. Analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Insider Activity

In other news, COO Benjamin E. Huston sold 50,000 shares of the business’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 value of $8,924,500.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan S. Keeton sold 13,137 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $300.00, for a total transaction of $3,941,100.00. Following the completion of the sale, the insider now directly owns 148,402 shares in the company, valued at approximately $44,520,600. This represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 590,313 shares of company stock valued at $145,613,672. Insiders own 17.12% of the company’s stock.

Carvana Company 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.