Allegheny Financial Group Makes New $354,000 Investment in Carvana Co. (NYSE:CVNA)

Allegheny Financial Group bought a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,740 shares of the company's stock, valued at approximately $354,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Carvana during the 4th quarter valued at $179,364,000. Vanguard Group Inc. increased its stake in Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after acquiring an additional 610,234 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Carvana in the 4th quarter worth about $86,636,000. Raymond James Financial Inc. acquired a new position in shares of Carvana in the 4th quarter valued at about $60,866,000. Finally, Prudential Financial Inc. lifted its stake in shares of Carvana by 204.1% in the 4th quarter. Prudential Financial Inc. now owns 405,462 shares of the company's stock valued at $82,455,000 after purchasing an additional 272,114 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $253.56, for a total transaction of $2,535,600.00. Following the sale, the chief operating officer now directly owns 139,294 shares in the company, valued at $35,319,386.64. The trade was a 6.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Taira sold 27,593 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the completion of the sale, the insider now directly owns 179,673 shares of the company's stock, valued at $40,431,815.19. The trade was a 13.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 348,560 shares of company stock worth $73,806,520. 17.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

CVNA has been the topic of several research reports. Bank of America cut their price target 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. William Blair restated an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Citigroup lowered their price target on Carvana from $320.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada upped their target price on Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company reissued a "market outperform" rating on shares of Carvana in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Carvana has an average rating of "Moderate Buy" and an average target price of $254.76.

Carvana Stock Down 0.1 %

Carvana stock traded down $0.38 during midday trading on Tuesday, hitting $259.19. The stock had a trading volume of 2,832,464 shares, compared to its average volume of 3,870,531. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The business has a fifty day moving average price of $206.35 and a 200 day moving average price of $225.41. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $292.84. The stock has a market cap of $55.25 billion, a P/E ratio of 165.09 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Research 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.