Central Pacific Bank Trust Division Purchases Shares of 2,993 Carvana Co. (NYSE:CVNA)

Central Pacific Bank Trust Division purchased a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,993 shares of the company's stock, valued at approximately $609,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVNA. Sugarloaf Wealth Management LLC bought a new position in shares of Carvana during the 3rd quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in shares of Carvana in the third quarter worth approximately $40,000. Versant Capital Management Inc purchased a new stake in shares of Carvana in the fourth quarter worth $42,000. First Horizon Advisors Inc. raised its position in shares of Carvana by 363.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company's stock valued at $44,000 after purchasing an additional 196 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Carvana during the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $180.49, for a total transaction of $18,049,000.00. Following the completion of the sale, the insider now owns 38,658,131 shares in the company, valued at $6,977,406,064.19. This represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,251,908 shares of company stock valued at $255,943,285 in the last 90 days. Company insiders own 17.18% of the company's stock.

Carvana Trading Down 11.2 %

CVNA traded down $22.40 during trading on Friday, reaching $177.16. The company had a trading volume of 11,671,706 shares, compared to its average volume of 10,560,553. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a 52 week low of $40.21 and a 52 week high of $268.34. The stock has a market cap of $36.78 billion, a P/E ratio of 17,733.73 and a beta of 3.32. The business has a 50 day simple moving average of $236.67 and a 200-day simple moving average of $180.94.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the company posted $0.23 EPS. The company's quarterly revenue was up 31.8% compared to the same quarter last year. On average, equities analysts anticipate that Carvana Co. will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVNA shares. JPMorgan Chase & Co. increased their price target on Carvana from $230.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Evercore ISI lifted their target price on Carvana from $240.00 to $245.00 and gave the company an "in-line" rating in a research note on Tuesday, December 3rd. JMP Securities restated a "market outperform" rating and issued a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Citigroup lifted their price objective on shares of Carvana from $125.00 to $195.00 and gave the company a "neutral" rating in a research report on Thursday, October 3rd. Finally, Robert W. Baird upped their target price on shares of Carvana from $160.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $229.18.

Carvana 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.