Charles Schwab Investment Management Inc. Increases Stake in Carvana Co. (NYSE:CVNA)

Charles Schwab Investment Management Inc. raised its position in Carvana Co. (NYSE:CVNA - Free Report) by 9.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 462,962 shares of the company's stock after acquiring an additional 39,089 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.22% of Carvana worth $94,148,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC acquired a new stake in Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC lifted its position in Carvana by 109.9% in the 4th 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. ORG Wealth Partners LLC acquired a new position in Carvana during the 4th quarter valued at about $34,000. Versant Capital Management Inc bought a new stake in Carvana during the 4th quarter worth approximately $42,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Carvana by 79.2% in the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock worth $46,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

CVNA has been the topic of several analyst reports. Bank of America lifted their target price on Carvana from $252.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, February 21st. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Evercore ISI lowered their target price on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a report on Tuesday. Citigroup raised their price target on shares of Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, William Blair reaffirmed an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $265.65.

Carvana Stock Performance

Shares of NYSE CVNA traded down $13.62 during trading on Thursday, reaching $165.67. 4,057,399 shares of the stock traded hands, compared to its average volume of 3,836,305. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a market capitalization of $35.32 billion, a P/E ratio of 105.52 and a beta of 3.56. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84. The company has a 50-day moving average of $229.54 and a 200-day moving average of $213.65.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 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 the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $55,016,895.44. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,784 shares of company stock valued at $18,599,844 over the last quarter. Company insiders own 17.12% of the company's stock.

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.