International Assets Investment Management LLC Invests $5.61 Million in Carvana Co. (NYSE:CVNA)

International Assets Investment Management LLC purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,588 shares of the company’s stock, valued at approximately $5,610,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE boosted its stake in Carvana by 248.0% in the first quarter. US Bancorp DE now owns 1,646 shares of the company’s stock worth $197,000 after purchasing an additional 1,173 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Carvana in the first quarter worth $603,000. Panagora Asset Management Inc. boosted its stake in Carvana by 86.7% in the first quarter. Panagora Asset Management Inc. now owns 3,022 shares of the company’s stock worth $360,000 after purchasing an additional 1,403 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Carvana by 2.4% during the first quarter. Great West Life Assurance Co. Can now owns 69,919 shares of the company’s stock worth $8,842,000 after acquiring an additional 1,636 shares during the last quarter. Finally, Aviva PLC raised its position in shares of Carvana by 62.5% during the first quarter. Aviva PLC now owns 41,710 shares of the company’s stock worth $4,976,000 after acquiring an additional 16,037 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Trading Down 7.0 %

Shares of Carvana stock opened at $69.77 on Tuesday. The company has a market capitalization of $14.09 billion, a PE ratio of 129.20 and a beta of 3.32. Carvana Co. has a 12 month low of $6.70 and a 12 month high of $94.04. The stock’s fifty day simple moving average is $73.60 and its 200 day simple moving average is $51.66.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.97) earnings per share. Analysts predict that Carvana Co. will post -3.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. William Blair upgraded Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Wedbush boosted their target price on Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Morgan Stanley increased their price target on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, February 26th. Finally, Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and raised their price target for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Carvana has an average rating of “Hold” and an average target price of $50.60.

Insider Buying and Selling

In other Carvana news, Director Neha Parikh acquired 1,300 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $77.00 per share, with a total value of $100,100.00. Following the purchase, the director now owns 58,495 shares of the company’s stock, valued at approximately $4,504,115. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Carvana news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the sale, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Neha Parikh purchased 1,300 shares of the company’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $77.00 per share, for a total transaction of $100,100.00. Following the purchase, the director now directly owns 58,495 shares in the company, valued at $4,504,115. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 187,883 shares of company stock valued at $15,505,178. 17.12% of the stock is owned by company 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.