Nissay Asset Management Corp Japan ADV Makes New Investment in Carvana Co. (NYSE:CVNA)

Nissay Asset Management Corp Japan ADV bought a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,906 shares of the company's stock, valued at approximately $2,991,000.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Carvana by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after purchasing an additional 39,089 shares during the last quarter. Plato Investment Management Ltd boosted its stake in Carvana by 135.5% in the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock worth $1,062,000 after buying an additional 2,994 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Carvana by 37.7% in the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock worth $97,305,000 after buying an additional 130,942 shares during the last quarter. Calamos Advisors LLC acquired a new stake in Carvana in the 4th quarter worth about $1,106,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Carvana in the 4th quarter valued at about $60,866,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carvana

In other news, insider Daniel J. Gill sold 70,166 shares of Carvana stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $281.43, for a total value of $19,746,817.38. Following the completion of the transaction, the insider now directly owns 201,087 shares of the company's stock, valued at approximately $56,591,914.41. This trade represents a 25.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 590,313 shares of company stock valued at $145,613,672. 17.12% of the stock is currently owned by corporate insiders.

Carvana Price Performance

Carvana stock traded down $3.34 during mid-day trading on Tuesday, reaching $301.87. 3,931,139 shares of the company were exchanged, compared to its average volume of 3,942,490. The company has a fifty day simple moving average of $223.22 and a 200-day simple moving average of $230.75. The firm has a market cap of $64.64 billion, a PE ratio of 192.27 and a beta of 3.61. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $311.88. 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 earnings results 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. The firm 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 36.59% and a net margin of 1.54%. The company's revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. As a group, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVNA. William Blair reissued an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Piper Sandler lifted their price objective on Carvana from $225.00 to $230.00 and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Stephens restated an "overweight" rating and set a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Finally, Citigroup boosted their price target on Carvana from $280.00 to $325.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Six 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $269.18.

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.