Mitsubishi UFJ Asset Management Co. Ltd. Acquires 80,207 Shares of Carvana Co. (NYSE:CVNA)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Carvana Co. (NYSE:CVNA) by 34,721.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 80,438 shares of the company’s stock after purchasing an additional 80,207 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Carvana were worth $16,358,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Fidelis Capital Partners LLC increased its holdings in Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after acquiring an additional 51 shares during the last quarter. Bleakley Financial Group LLC increased its holdings 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 purchasing an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 purchasing an additional 74 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in Carvana by 2.1% during the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock valued at $752,000 after buying an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the topic of several recent research reports. Morgan Stanley raised Carvana from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $260.00 to $280.00 in a report on Tuesday, March 25th. Citigroup boosted their target price on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. JPMorgan Chase & Co. lowered their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Robert W. Baird increased their price target on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $261.53.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the transaction, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,377 shares of company stock worth $44,251,096 in the last three months. Corporate insiders own 17.12% of the company’s stock.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $204.40 on Monday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm has a market cap of $43.57 billion, a PE ratio of 130.19 and a beta of 3.56. The firm’s 50 day simple moving average is $227.25 and its 200-day simple moving average is $218.09. Carvana Co. has a one year low of $67.61 and a one year high of $292.84.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping 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%. As a group, equities analysts predict that Carvana Co. will post 2.85 EPS for the current year.

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.