Oppenheimer & Co. Inc. Boosts Stake in Carvana Co. (NYSE:CVNA)

Oppenheimer & Co. Inc. lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 19.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,289 shares of the company’s stock after buying an additional 374 shares during the period. Oppenheimer & Co. Inc.’s holdings in Carvana were worth $465,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CVNA. FMR LLC lifted its stake in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Lingotto Investment Management LLP increased its holdings in shares of Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after purchasing an additional 57,215 shares during the last quarter. State Street Corp lifted its position in shares of Carvana by 6.1% in the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after buying an additional 107,610 shares in the last quarter. Geode Capital Management LLC boosted its stake in Carvana by 7.8% during the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock valued at $315,133,000 after buying an additional 131,059 shares during the last quarter. Finally, Whale Rock Capital Management LLC purchased a new position in Carvana during the 3rd quarter valued at approximately $162,953,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Up 0.7 %

CVNA opened at $188.19 on Friday. The company has a market cap of $40.11 billion, a PE ratio of 119.86 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The firm has a 50 day moving average price of $231.95 and a 200 day moving average price of $212.64.

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

Insider Activity at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,629 shares of company stock valued at $30,866,419 in the last quarter. Insiders own 17.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CVNA shares. Royal Bank of Canada lifted their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 target price on shares of Carvana in a report on Friday. Robert W. Baird increased their price target on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. 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. Finally, Citigroup boosted their price objective on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.94.

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.