Everence Capital Management Inc. Invests $573,000 in Carvana Co. (NYSE:CVNA)

Everence Capital Management Inc. acquired a new stake in Carvana Co. (NYSE:CVNA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,820 shares of the company’s stock, valued at approximately $573,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Lingotto Investment Management LLP grew its stake in shares of Carvana by 1.4% in the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after acquiring an additional 52,833 shares in the last quarter. State Street Corp increased its position in shares of Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after acquiring an additional 107,610 shares during the period. Geode Capital Management LLC increased its position in shares of Carvana by 7.8% during the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after acquiring an additional 131,059 shares during the period. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of Carvana in the third quarter valued at $162,953,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several recent research reports. Needham & Company LLC upped their price target on Carvana from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Robert W. Baird raised their target price on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wedbush increased their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Carvana presently has an average rating of “Hold” and a consensus target price of $229.18.

Insiders Place Their Bets

In other news, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now directly owns 191,225 shares of the company’s stock, valued at $49,617,150.75. This represents a 18.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $180.49, for a total transaction of $18,049,000.00. Following the completion of the sale, the insider now owns 38,658,131 shares of the company’s stock, valued at $6,977,406,064.19. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,251,908 shares of company stock worth $255,943,285. Company insiders own 17.18% of the company’s stock.

Carvana Stock Performance

NYSE:CVNA opened at $177.16 on Friday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm has a market cap of $36.78 billion, a price-to-earnings ratio of 17,733.73 and a beta of 3.32. The firm’s fifty day moving average price is $236.67 and its 200 day moving average price is $180.94. Carvana Co. has a 1-year low of $40.21 and a 1-year high of $268.34.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The firm’s revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. On average, sell-side analysts expect that Carvana Co. will post 0.76 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.