National Bank of Canada FI Increases Stock Position in Carvana Co. (NYSE:CVNA)

National Bank of Canada FI boosted its holdings in Carvana Co. (NYSE:CVNA) by 4,087.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 59,506 shares of the company’s stock after acquiring an additional 58,085 shares during the quarter. National Bank of Canada FI’s holdings in Carvana were worth $12,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC bought a new stake in shares of Carvana during the fourth quarter valued at about $28,000. Global Retirement Partners LLC grew 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 acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in Carvana during the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new stake in Carvana in the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc bought a new position in Carvana in the 4th quarter valued at $42,000. Institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the topic of a number of recent analyst reports. Citigroup increased their price objective on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley raised Carvana from an “underweight” rating to an “overweight” rating in a report on Monday. William Blair reissued an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Piper Sandler raised shares of Carvana from a “neutral” rating to an “overweight” rating in a research note on Monday. Finally, 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. 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 a consensus rating of “Moderate Buy” and an average price target of $258.59.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the firm’s 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 sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This trade represents a 20.30 % 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 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total value of $2,501,200.00. Following the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $55,016,895.44. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 280,810 shares of company stock worth $61,698,820. Insiders own 17.12% of the company’s stock.

Carvana Stock Down 10.6 %

Shares of NYSE:CVNA opened at $162.54 on Friday. The stock has a market capitalization of $34.65 billion, a P/E ratio of 103.53 and a beta of 3.61. The stock’s 50-day moving average price is $223.47 and its 200-day moving average price is $218.92. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, equities analysts anticipate that Carvana Co. will post 2.85 earnings per share 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.