Sumitomo Mitsui Trust Group Inc. Acquires 31,906 Shares of Carvana Co. (NYSE:CVNA)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 14.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 251,162 shares of the company's stock after purchasing an additional 31,906 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.12% of Carvana worth $52,513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in shares of Carvana in the fourth quarter worth $31,000. Transce3nd LLC bought a new position in Carvana in the 4th quarter worth $48,000. Versant Capital Management Inc increased its stake in Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after buying an additional 82 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Carvana in the 4th quarter worth $75,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVNA. Citigroup reaffirmed an "outperform" rating on shares of Carvana in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Needham & Company LLC restated a "buy" rating and issued a $340.00 price target on shares of Carvana in a research note on Thursday, May 8th. Evercore ISI lifted their price objective on shares of Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research report on Tuesday, June 24th. Finally, Bank of America boosted their target price on shares of Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $293.88.

Insider Buying and Selling

In related news, CEO Ernest C. Garcia III sold 5,439 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $344.00, for a total transaction of $1,871,016.00. Following the transaction, the chief executive officer directly owned 691,440 shares in the company, valued at approximately $237,855,360. This represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $338.36, for a total transaction of $4,314,090.00. Following the completion of the sale, the chief financial officer directly owned 211,020 shares in the company, valued at $71,400,727.20. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,379,861 shares of company stock worth $434,528,045. 17.12% of the stock is currently owned by corporate insiders.

Carvana Price Performance

Shares of NYSE:CVNA traded up $5.12 on Thursday, reaching $348.51. The company's stock had a trading volume of 1,542,889 shares, compared to its average volume of 3,860,027. The company has a 50-day simple moving average of $303.62 and a 200 day simple moving average of $247.55. Carvana Co. has a 52-week low of $118.50 and a 52-week high of $351.43. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The company has a market cap of $74.63 billion, a P/E ratio of 122.28, a PEG ratio of 1.34 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The company's quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

About Carvana

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.