SG Americas Securities LLC Invests $117,000 in Carvana Co. (NYSE:CVNA)

SG Americas Securities LLC acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,208 shares of the company’s stock, valued at approximately $117,000.

Several other large investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its position in shares of Carvana by 17.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company’s stock worth $230,000 after buying an additional 280 shares during the period. Diversified Trust Co lifted its holdings in shares of Carvana by 6.0% in the 4th quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after purchasing an additional 319 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Carvana by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock worth $1,079,000 after purchasing an additional 377 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Carvana by 21.4% in the 1st quarter. Mackenzie Financial Corp now owns 2,428 shares of the company’s stock worth $290,000 after purchasing an additional 428 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new position in shares of Carvana in the 1st quarter worth $59,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVNA shares. JPMorgan Chase & Co. increased their target price on Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $80.00 target price on shares of Carvana in a report on Wednesday. Royal Bank of Canada upgraded Carvana from an “underperform” rating to a “sector perform” rating and raised their price objective for the company from $45.00 to $90.00 in a research note on Friday, March 8th. Evercore ISI dropped their price objective on Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, William Blair upgraded Carvana from a “market perform” rating to an “outperform” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $52.53.

Carvana Stock Performance

Shares of CVNA opened at $71.10 on Friday. The business has a 50-day moving average of $74.84 and a 200 day moving average of $52.12. Carvana Co. has a fifty-two week low of $6.70 and a fifty-two week high of $94.04. The firm has a market cap of $14.36 billion, a P/E ratio of 131.67 and a beta of 3.32.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share 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 the consensus estimate of $2.56 billion. During the same period in the prior year, the business posted ($0.97) earnings per share. The business’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts predict that Carvana Co. will post -3.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Neha Parikh bought 1,300 shares of Carvana stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $77.00 per share, with a total value of $100,100.00. Following the acquisition, the director now directly owns 58,495 shares of the company’s stock, valued at $4,504,115. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Carvana news, CEO Ernest C. Garcia III sold 9,390 shares of Carvana stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total transaction of $777,773.70. Following the completion of the transaction, the chief executive officer now owns 861,458 shares of the company’s stock, valued at approximately $71,354,566.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neha Parikh bought 1,300 shares of Carvana stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $77.00 per share, with a total value of $100,100.00. Following the acquisition, 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 90 days, insiders sold 187,883 shares of company stock valued at $15,505,178. 17.12% of the stock is owned by 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.