Lord Abbett & CO. LLC Raises Stock Holdings in Carvana Co. (NYSE:CVNA)

Lord Abbett & CO. LLC boosted its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 554,928 shares of the company's stock after purchasing an additional 16,455 shares during the period. Lord Abbett & CO. LLC owned about 0.27% of Carvana worth $112,850,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVNA. Charles Schwab Investment Management Inc. grew its stake in shares of Carvana by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after acquiring an additional 39,089 shares during the period. Plato Investment Management Ltd raised its stake in shares of Carvana by 135.5% during the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock valued at $1,062,000 after purchasing an additional 2,994 shares during the period. Bank of New York Mellon Corp lifted its holdings in Carvana by 37.7% during the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock worth $97,305,000 after purchasing an additional 130,942 shares in the last quarter. Oak Thistle LLC boosted its stake in Carvana by 115.9% in the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock worth $658,000 after purchasing an additional 1,738 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Carvana by 33.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company's stock valued at $77,807,000 after buying an additional 95,497 shares in the last quarter. Institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CVNA. Robert W. Baird cut their price objective on shares of Carvana from $250.00 to $200.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Bank of America reduced their price target 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. Wells Fargo & Company lowered their price objective on Carvana from $310.00 to $290.00 and set an "overweight" rating on the stock in a research report on Monday. Wedbush set a $250.00 target price on Carvana and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Evercore ISI lowered their price target on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.76.

Carvana Trading Down 2.4 %

Shares of NYSE:CVNA traded down $5.75 on Wednesday, hitting $237.84. 1,440,999 shares of the company's stock were exchanged, compared to its average volume of 4,032,755. The stock has a market capitalization of $50.70 billion, a price-to-earnings ratio of 151.49 and a beta of 3.61. Carvana Co. has a 12 month low of $80.07 and a 12 month high of $292.84. 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 business's 50 day simple moving average is $203.95 and its two-hundred day simple moving average is $223.46.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the transaction, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 219,962 shares of the company's stock, valued at approximately $55,016,895.44. This represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 330,810 shares of company stock valued at $69,243,820 over the last quarter. 17.12% of the stock is owned by corporate insiders.

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.