Envestnet Asset Management Inc. Purchases 810 Shares of Carvana Co. (NYSE:CVNA)

Envestnet Asset Management Inc. raised its stake in shares of Carvana Co. (NYSE:CVNA) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 35,242 shares of the company’s stock after purchasing an additional 810 shares during the period. Envestnet Asset Management Inc.’s holdings in Carvana were worth $7,167,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Aviva PLC purchased a new position in shares of Carvana in the 4th quarter worth approximately $304,000. Resona Asset Management Co. Ltd. purchased a new position in Carvana in the fourth quarter worth $6,554,000. Prudential PLC bought a new position in Carvana in the 4th quarter valued at $374,000. Selway Asset Management purchased a new stake in shares of Carvana during the 4th quarter valued at $203,000. Finally, Motley Fool Asset Management LLC raised its stake in shares of Carvana by 11.4% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,892 shares of the company’s stock worth $385,000 after purchasing an additional 194 shares during the period. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wedbush set a $250.00 price target on shares of Carvana and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $340.00 price target on shares of Carvana in a report on Friday, March 7th. JMP Securities reduced their price objective on Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a report on Wednesday, April 9th. Finally, DA Davidson upped their price target on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus target price of $253.59.

Insider Transactions at Carvana

In other news, insider Thomas Taira sold 27,593 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the completion of the sale, the insider now owns 179,673 shares of the company’s stock, valued at approximately $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 330,810 shares of company stock worth $69,243,820. 17.12% of the stock is currently owned by corporate insiders.

Carvana Trading Up 0.8 %

Shares of CVNA opened at $211.03 on Monday. 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 Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The company has a market capitalization of $44.99 billion, a P/E ratio of 134.42 and a beta of 3.61. The firm’s 50 day simple moving average is $210.77 and its 200 day simple moving average is $221.81.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.