Nuveen Asset Management LLC Has $81.72 Million Holdings in Carvana Co. (NYSE:CVNA)

Nuveen Asset Management LLC grew its stake in Carvana Co. (NYSE:CVNA) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 401,866 shares of the company’s stock after acquiring an additional 13,652 shares during the period. Nuveen Asset Management LLC’s holdings in Carvana were worth $81,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Fidelis Capital Partners LLC raised its stake in shares of Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after acquiring an additional 51 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after acquiring an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after acquiring an additional 74 shares during the last quarter. Great Lakes Advisors LLC raised its stake in shares of Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after acquiring an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Thomas Taira sold 27,593 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the transaction, the insider now directly owns 179,673 shares of the company’s stock, valued at approximately $40,431,815.19. This represents a 13.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the transaction, the chief operating officer now owns 123,803 shares of the company’s stock, valued at approximately $18,681,872.70. This represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 618,735 shares of company stock valued at $153,823,367. Company insiders own 16.36% of the company’s stock.

Carvana Price Performance

CVNA opened at $299.68 on Friday. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $311.88. The company has a fifty day simple moving average of $220.71 and a 200 day simple moving average of $230.33. The stock has a market cap of $63.88 billion, a P/E ratio of 190.88 and a beta of 3.61.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on CVNA. Royal Bank of Canada boosted their target price on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Robert W. Baird boosted their price target on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Citigroup boosted their price target on shares of Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. DA Davidson boosted their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley boosted their price target on shares of Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average target price of $269.18.

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.