Carvana Co. (NYSE:CVNA) Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. increased its stake in shares of Carvana Co. (NYSE:CVNA) by 204.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 405,462 shares of the company’s stock after purchasing an additional 272,114 shares during the quarter. Prudential Financial Inc. owned 0.20% of Carvana worth $82,455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Whale Rock Capital Management LLC purchased a new position in Carvana during the third quarter worth about $162,953,000. Vanguard Group Inc. boosted its holdings in 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 in the last quarter. Lord Abbett & CO. LLC boosted its holdings in Carvana by 1,454.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after purchasing an additional 503,824 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Carvana during the 4th quarter worth approximately $60,866,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE:CVNA opened at $213.61 on Tuesday. 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 firm has a market cap of $45.53 billion, a PE ratio of 136.06 and a beta of 3.56. The firm has a 50 day simple moving average of $227.95 and a 200-day simple moving average of $215.96. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share 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 during the quarter, compared to the consensus estimate of $3.32 billion. On average, equities analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on CVNA. DA Davidson raised their price target on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Royal Bank of Canada upped their price target on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Robert W. Baird increased their price target on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Bank of America decreased their price objective on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $262.71.

Insider Activity at Carvana

In other 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 transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,784 shares of company stock worth $27,524,344. 17.12% of the stock is currently owned by insiders.

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.