Bank of New York Mellon Corp Increases Stock Position in Carvana Co. (NYSE:CVNA)

Bank of New York Mellon Corp lifted its position in Carvana Co. (NYSE:CVNA - Free Report) by 37.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 478,488 shares of the company's stock after purchasing an additional 130,942 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.23% of Carvana worth $97,305,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Carvana by 21.4% in the fourth quarter. IFP Advisors Inc now owns 550 shares of the company's stock valued at $112,000 after buying an additional 97 shares during the last quarter. Colonial River Investments LLC lifted its position in Carvana by 6.0% during the 4th quarter. Colonial River Investments LLC now owns 4,785 shares of the company's stock worth $973,000 after acquiring an additional 270 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Carvana in the 4th quarter valued at approximately $4,982,000. Prakash Investment Advisors LLC acquired a new position in shares of Carvana in the fourth quarter valued at approximately $602,000. Finally, ING Groep NV purchased a new position in Carvana in the 4th quarter valued at $19,055,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Price Performance

Shares of NYSE CVNA traded down $16.69 during trading on Thursday, reaching $199.20. The company had a trading volume of 2,560,856 shares, compared to its average volume of 4,108,575. 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 twelve month low of $67.61 and a twelve month high of $292.84. The stock has a 50-day moving average price of $232.84 and a two-hundred day moving average price of $212.80. The stock has a market capitalization of $42.46 billion, a PE ratio of 126.88 and a beta of 3.56.

Carvana (NYSE:CVNA - Get Free Report) last announced its 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 net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the transaction, the chief financial officer now owns 189,097 shares of the company's stock, valued at $37,961,222.75. This represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ira J. Platt sold 25,000 shares of Carvana stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total value of $6,107,500.00. Following the completion of the sale, the director now directly owns 5,227 shares of the company's stock, valued at approximately $1,276,956.10. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,629 shares of company stock valued at $30,866,419. Company insiders own 17.18% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVNA. Robert W. Baird lifted their target price on shares of Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Citigroup boosted their target price on Carvana from $277.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. 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. Bank of America upped their price objective on Carvana from $252.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Wells Fargo & Company reduced their target price on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and a consensus target price of $265.06.

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.