Harvest Investment Services LLC Acquires 7,066 Shares of Carvana Co. (NYSE:CVNA)

Harvest Investment Services LLC raised its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 115.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,196 shares of the company's stock after purchasing an additional 7,066 shares during the period. Harvest Investment Services LLC's holdings in Carvana were worth $2,684,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC increased its position in Carvana by 573.3% during the fourth quarter. Hsbc Holdings PLC now owns 42,974 shares of the company's stock worth $8,715,000 after buying an additional 36,591 shares during the last quarter. Hunting Hill Global Capital LLC bought a new position in shares of Carvana in the 4th quarter valued at approximately $407,000. Senator Investment Group LP boosted its position in Carvana by 1.8% during the fourth quarter. Senator Investment Group LP now owns 434,024 shares of the company's stock worth $88,263,000 after purchasing an additional 7,500 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Carvana by 2,669.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,274 shares of the company's stock valued at $259,000 after purchasing an additional 1,228 shares during the period. Finally, Transce3nd LLC bought a new position in shares of Carvana in the fourth quarter valued at approximately $48,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CVNA. Robert W. Baird lowered their target price on shares of Carvana from $250.00 to $200.00 and set a "neutral" rating on the stock in a research note on Friday, April 4th. Wedbush set a $250.00 price target on Carvana and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada boosted their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Wells Fargo & Company decreased their price target on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Six 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 an average rating of "Moderate Buy" and an average target price of $253.88.

Carvana Price Performance

Carvana stock traded up $1.80 during trading hours on Friday, hitting $236.82. 2,947,267 shares of the stock were exchanged, compared to its average volume of 4,061,562. The stock has a market capitalization of $50.48 billion, a P/E ratio of 150.84 and a beta of 3.61. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 12 month low of $80.07 and a 12 month high of $292.84. The business's 50-day moving average is $204.82 and its two-hundred day moving average is $222.76.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.32 billion. Equities research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity

In other Carvana news, insider Thomas Taira sold 27,593 shares of the business'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 approximately $40,431,815.19. The trade was a 13.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now directly owns 219,962 shares of the company's stock, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 330,810 shares of company stock valued at $69,243,820 over the last three months. 17.12% of the stock is owned by insiders.

Carvana Company 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.