Victory Capital Management Inc. Raises Holdings in Carvana Co. (NYSE:CVNA)

Victory Capital Management Inc. grew its position in Carvana Co. (NYSE:CVNA) by 51.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,845 shares of the company’s stock after buying an additional 12,774 shares during the quarter. Victory Capital Management Inc.’s holdings in Carvana were worth $7,696,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Carvana by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock worth $94,148,000 after purchasing an additional 39,089 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in Carvana in the fourth quarter valued at about $340,000. Fidelis Capital Partners LLC raised its stake in Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after buying an additional 51 shares during the last quarter. Plato Investment Management Ltd raised its stake in Carvana by 135.5% in the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock valued at $1,062,000 after buying an additional 2,994 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Carvana in the fourth quarter valued at about $146,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This represents a 11.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the transaction, the insider now directly owns 153,240 shares of the company’s stock, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,784 shares of company stock worth $18,599,844 in the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CVNA. DA Davidson increased their price objective on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Evercore ISI cut their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday. Wedbush set a $250.00 price objective on Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Eight 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 has a consensus rating of “Moderate Buy” and a consensus target price of $262.71.

Carvana Stock Performance

CVNA opened at $181.37 on Friday. The company has a market capitalization of $38.66 billion, a price-to-earnings ratio of 115.52 and a beta of 3.56. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The business has a 50 day moving average price of $228.94 and a two-hundred day moving average price of $213.48. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

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