First Trust Advisors LP Buys 22,640 Shares of Carvana Co. (NYSE:CVNA)

First Trust Advisors LP grew its stake in Carvana Co. (NYSE:CVNA - Free Report) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 593,636 shares of the company's stock after purchasing an additional 22,640 shares during the period. First Trust Advisors LP owned about 0.29% of Carvana worth $120,722,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp grew its position in Carvana by 65.3% during the third quarter. Stifel Financial Corp now owns 5,434 shares of the company's stock worth $946,000 after buying an additional 2,147 shares in the last quarter. MML Investors Services LLC increased its position in shares of Carvana by 3.0% during the third quarter. MML Investors Services LLC now owns 4,172 shares of the company's stock valued at $726,000 after purchasing an additional 122 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Carvana in the third quarter valued at $312,000. World Investment Advisors LLC bought a new position in Carvana in the third quarter worth $2,009,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Carvana during the third quarter worth $241,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 123,803 shares of the company's stock, valued at $18,681,872.70. The trade was a 28.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now owns 219,962 shares in the company, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 330,810 shares of company stock valued at $69,243,820. 17.12% of the stock is currently owned by insiders.

Carvana Trading Up 0.8 %

NYSE:CVNA traded up $1.80 during trading hours on Friday, hitting $236.82. 2,947,267 shares of the stock were exchanged, compared to its average volume of 4,064,935. The company has a market capitalization of $50.48 billion, a P/E ratio of 150.84 and a beta of 3.61. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company's 50 day moving average is $204.82 and its two-hundred day moving average is $222.54. Carvana Co. has a twelve month low of $77.00 and a twelve month high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (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 analysts' expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVNA shares. Wedbush set a $250.00 price objective on shares of Carvana and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Bank of America cut their price target on shares of Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Evercore ISI lowered their price objective 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. Robert W. Baird cut their target price on Carvana from $250.00 to $200.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Finally, 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 research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.88.

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.