Carvana Co. (NYSE:CVNA) Stock Position Raised by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 573.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,974 shares of the company's stock after acquiring an additional 36,591 shares during the quarter. Hsbc Holdings PLC's holdings in Carvana were worth $8,715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC acquired a new stake in Carvana during the 4th quarter worth $28,000. Global Retirement Partners LLC raised its position in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Carvana in the 4th quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Carvana during the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc purchased a new stake in Carvana during the fourth quarter worth $42,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE CVNA traded up $0.58 during trading hours on Wednesday, reaching $244.17. The company's stock had a trading volume of 2,665,456 shares, compared to its average volume of 4,037,801. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The business has a 50-day simple moving average of $204.37 and a 200 day simple moving average of $223.61. The stock has a market cap of $52.05 billion, a PE ratio of 155.52 and a beta of 3.61. Carvana Co. has a 52 week low of $82.00 and a 52 week high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on CVNA shares. Royal Bank of Canada upped their price target on shares of Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. Piper Sandler lifted their price objective on Carvana from $225.00 to $230.00 and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Morgan Stanley raised shares of Carvana from an "underweight" rating to an "overweight" rating in a research report on Monday, March 31st. Finally, Bank of America lowered their price objective on shares of Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $254.76.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares in the company, valued at $55,016,895.44. The trade was a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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 directly owns 196,278 shares of the company's stock, valued at approximately $35,033,660.22. This trade represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 330,810 shares of company stock valued at $69,243,820 over the last 90 days. 17.12% of the stock is currently owned by company insiders.

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.