Ethic Inc. Boosts Stake in Carvana Co. (NYSE:CVNA)

Ethic Inc. raised its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 146.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,033 shares of the company's stock after acquiring an additional 4,184 shares during the period. Ethic Inc.'s holdings in Carvana were worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fidelis Capital Partners LLC raised its holdings in shares of Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock worth $313,000 after buying an additional 51 shares during the period. Bleakley Financial Group LLC grew its stake in Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock worth $483,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after purchasing an additional 74 shares during the period. Great Lakes Advisors LLC raised its position in Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock valued at $752,000 after purchasing an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after buying an additional 78 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Trading Up 0.8%

Shares of CVNA stock traded up $2.28 during trading on Friday, hitting $299.68. 3,656,928 shares of the stock traded hands, compared to its average volume of 3,931,256. Carvana Co. has a 52-week low of $97.55 and a 52-week high of $311.88. 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 firm's fifty day moving average price is $218.17 and its 200-day moving average price is $229.55. The firm has a market capitalization of $63.88 billion, a P/E ratio of 190.88 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the prior year, the company earned $0.23 earnings per share. The business's quarterly revenue was up 38.3% on a year-over-year basis. As a group, research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Evercore ISI dropped their price target on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. DA Davidson upped their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. William Blair reissued an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Finally, Morgan Stanley raised their target price on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.18.

Insider Buying and Selling

In other Carvana news, insider Paul W. Breaux sold 30,000 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $298.00, for a total transaction of $8,940,000.00. Following the completion of the transaction, the insider now owns 149,114 shares in the company, valued at approximately $44,435,972. This represents a 16.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the transaction, the chief operating officer now directly owns 123,803 shares of the company's stock, valued at $18,681,872.70. This represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 462,967 shares of company stock worth $106,728,267. Corporate insiders own 16.36% of the company's stock.

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.