CIBC Asset Management Inc Increases Stock Holdings in Carvana Co. (NYSE:CVNA)

CIBC Asset Management Inc boosted its position in Carvana Co. (NYSE:CVNA) by 40.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,740 shares of the company’s stock after purchasing an additional 1,374 shares during the period. CIBC Asset Management Inc’s holdings in Carvana were worth $964,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Bleakley Financial Group LLC lifted its position in shares of Carvana by 2.8% during the 4th 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 in the last quarter. Forum Financial Management LP increased its stake in Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Carvana by 0.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock valued at $5,657,000 after purchasing an additional 86 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Carvana by 37.6% during the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock valued at $65,000 after purchasing an additional 88 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Carvana by 3.6% during the 4th quarter. Empowered Funds LLC now owns 2,936 shares of the company’s stock valued at $597,000 after purchasing an additional 101 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now owns 219,962 shares in the company, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 173,629 shares of company stock worth $44,833,799. 17.12% of the stock is owned by corporate insiders.

Carvana Stock Down 9.9 %

Shares of CVNA opened at $223.14 on Friday. Carvana Co. has a 52 week low of $49.38 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 company has a market capitalization of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37. The stock’s 50-day moving average price is $234.35 and its 200-day moving average price is $208.28.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVNA. Bank of America boosted their price objective on Carvana from $252.00 to $270.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company lowered their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Stephens set a $300.00 price target on Carvana and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, DA Davidson upped their target price on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $265.06.

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.