Allegheny Financial Group Purchases Shares of 1,740 Carvana Co. (NYSE:CVNA)

Allegheny Financial Group acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,740 shares of the company’s stock, valued at approximately $354,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after acquiring an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP raised its holdings in Carvana by 1.5% during 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Carvana by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after buying an additional 75,250 shares during the last quarter. Norges Bank acquired a new position in shares of Carvana in the 4th quarter valued at $179,364,000. Finally, Palestra Capital Management LLC grew its position in shares of Carvana by 15.5% in the 4th quarter. Palestra Capital Management LLC now owns 807,016 shares of the company’s stock valued at $164,115,000 after buying an additional 108,203 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE CVNA opened at $257.19 on Friday. The stock has a market capitalization of $54.82 billion, a price-to-earnings ratio of 163.82 and a beta of 3.61. The business’s 50 day moving average is $205.81 and its two-hundred day moving average is $224.49. Carvana Co. has a 12-month low of $97.55 and a 12-month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CVNA. Bank of America decreased their price objective on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. DA Davidson boosted their price objective on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. 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, Citigroup cut their target price on shares of Carvana from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $254.76.

Insider Activity at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 330,810 shares of company stock worth $69,243,820 over the last 90 days. Company insiders own 17.12% of the company’s stock.

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.