Northern Trust Corp Purchases 151,338 Shares of Carvana Co. (NYSE:CVNA)

Northern Trust Corp raised its position in shares of Carvana Co. (NYSE:CVNA) by 30.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 650,696 shares of the company’s stock after acquiring an additional 151,338 shares during the period. Northern Trust Corp’s holdings in Carvana were worth $132,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CVNA. Vanguard Group Inc. lifted its stake in shares of Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after purchasing an additional 610,234 shares during the last quarter. Lingotto Investment Management LLP increased its position in Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock valued at $810,827,000 after acquiring an additional 57,215 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after acquiring an additional 75,250 shares during the last quarter. Norges Bank bought a new position in Carvana during the 4th quarter valued at about $179,364,000. Finally, First Trust Advisors LP raised its position in Carvana by 4.0% in the 4th quarter. First Trust Advisors LP now owns 593,636 shares of the company’s stock worth $120,722,000 after purchasing an additional 22,640 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now owns 196,278 shares in the company, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 43,433 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the transaction, the chief financial officer now owns 214,678 shares in the company, valued at $44,925,665.06. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 330,810 shares of company stock worth $69,243,820. Corporate insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVNA shares. Wells Fargo & Company reduced their price target on Carvana from $310.00 to $290.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Robert W. Baird reduced their price target on shares of Carvana from $250.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. Evercore ISI dropped their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Finally, Piper Sandler lifted their target price on Carvana from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.76.

Carvana Trading Up 2.1 %

Shares of Carvana stock opened at $257.19 on Friday. Carvana Co. has a 1 year low of $97.55 and a 1 year high of $292.84. 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 market cap of $54.82 billion, a PE ratio of 163.82 and a beta of 3.61. The firm has a fifty day moving average price of $205.81 and a 200 day moving average price of $224.49.

Carvana (NYSE:CVNA) last issued its quarterly earnings data 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. The business 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%. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

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.