Primecap Management Co. CA Acquires Shares of 174,900 Carvana Co. (NYSE:CVNA)

Primecap Management Co. CA acquired a new stake in Carvana Co. (NYSE:CVNA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 174,900 shares of the company’s stock, valued at approximately $35,568,000. Primecap Management Co. CA owned approximately 0.08% of Carvana as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC lifted 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 purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in Carvana in the 4th quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in shares of Carvana during the 4th quarter worth $34,000. Finally, Versant Capital Management Inc purchased a new position in shares of Carvana during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CVNA shares. Robert W. Baird lifted their price target on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Stephens reiterated an “overweight” rating and set a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Wells Fargo & Company reduced their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $340.00 price target on shares of Carvana in a report on Friday, March 7th. Finally, Citigroup lifted their price target on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $262.71.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the transaction, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at approximately $55,016,895.44. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,784 shares of company stock valued at $27,524,344. 17.12% of the stock is currently owned by corporate insiders.

Carvana Stock Performance

NYSE CVNA opened at $166.65 on Wednesday. The company has a market cap of $35.52 billion, a P/E ratio of 106.14 and a beta of 3.56. 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 stock has a 50-day moving average of $228.25 and a two-hundred day moving average of $214.65. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84.

Carvana (NYSE:CVNA) last released 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 during 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%. As a group, analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

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.