Ethic Inc. Buys 4,184 Shares of Carvana Co. (NYSE:CVNA)

Ethic Inc. boosted its stake in Carvana Co. (NYSE:CVNA) by 146.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,033 shares of the company’s stock after acquiring an additional 4,184 shares during the period. Ethic Inc.’s holdings in Carvana were worth $1,430,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVNA. Quent Capital LLC purchased a new position in shares of Carvana in the fourth quarter worth about $28,000. Global Retirement Partners LLC grew its stake in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in Carvana during the 4th quarter valued at $31,000. Venturi Wealth Management LLC lifted its position in shares of Carvana by 79.2% during the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock worth $46,000 after acquiring an additional 99 shares in the last quarter. Finally, Transce3nd LLC bought a new position in shares of Carvana in the fourth quarter worth $48,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE:CVNA opened at $279.44 on Tuesday. Carvana Co. has a 1-year low of $97.55 and a 1-year high of $293.62. 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 business has a 50 day moving average of $211.21 and a 200 day moving average of $227.94. The company has a market capitalization of $59.57 billion, a price-to-earnings ratio of 177.99 and a beta of 3.61.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm’s revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. On average, sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Thomas Taira sold 27,593 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now directly owns 179,673 shares of the company’s stock, valued at $40,431,815.19. This trade represents a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $275.68, for a total value of $5,513,600.00. Following the transaction, the chief financial officer now directly owns 199,962 shares of the company’s stock, valued at $55,125,524.16. The trade was a 9.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 441,353 shares of company stock valued at $99,768,424. 17.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on CVNA shares. Wedbush raised Carvana to a “hold” rating in a report on Thursday, May 8th. DA Davidson increased their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. JMP Securities decreased their target price on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Citigroup raised their price target on shares of Carvana from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $268.59.

Carvana Company 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.