Rhumbline Advisers Increases Stake in Carvana Co. (NYSE:CVNA)

Rhumbline Advisers increased its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,856 shares of the company's stock after acquiring an additional 11,240 shares during the period. Rhumbline Advisers owned approximately 0.10% of Carvana worth $43,668,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Quent Capital LLC bought a new position in shares of Carvana in the fourth quarter worth approximately $28,000. Global Retirement Partners LLC boosted its stake 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 acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in Carvana during the fourth quarter valued at about $31,000. Venturi Wealth Management LLC grew its stake in shares of Carvana by 79.2% during the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock valued at $46,000 after acquiring an additional 99 shares during the period. Finally, Transce3nd LLC bought a new position in shares of Carvana in the fourth quarter worth approximately $48,000. 56.71% of the stock is owned by institutional investors.

Carvana Stock Down 0.3%

NYSE CVNA traded down $1.02 during midday trading on Friday, hitting $342.28. 2,103,196 shares of the company traded hands, compared to its average volume of 3,958,272. Carvana Co. has a 52 week low of $100.05 and a 52 week high of $351.24. The company's 50-day simple moving average is $255.91 and its 200-day simple moving average is $237.88. The company has a market cap of $73.30 billion, a PE ratio of 218.23 and a beta of 3.61. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

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

Insider Buying and Selling at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now owns 196,278 shares of the company's stock, valued at $35,033,660.22. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Taira sold 27,593 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the transaction, the insider now owns 179,673 shares in the company, valued at approximately $40,431,815.19. This trade represents a 13.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,016,196 shares of company stock valued at $284,029,665. 17.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CVNA shares. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Morgan Stanley boosted their target price on shares of Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Royal Bank of Canada boosted their target price on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. DA Davidson increased their price objective on shares of Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Finally, Stephens reiterated an "overweight" rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $275.65.

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.