Sterling Capital Management LLC Has $972,000 Position in Carvana Co. (NYSE:CVNA)

Sterling Capital Management LLC lifted its holdings in Carvana Co. (NYSE:CVNA) by 43.5% during the fourth quarter, HoldingsChannel reports. The firm owned 4,781 shares of the company’s stock after purchasing an additional 1,449 shares during the period. Sterling Capital Management LLC’s holdings in Carvana were worth $972,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Fidelis Capital Partners LLC grew its stake in shares of Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after purchasing an additional 51 shares during the period. Bleakley Financial Group LLC boosted its holdings in Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after acquiring an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after buying an additional 74 shares during the last quarter. Great Lakes Advisors LLC raised its position in shares of Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock valued at $752,000 after acquiring an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after buying an additional 78 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $150.90, for a total value of $7,545,000.00. Following the sale, the chief operating officer now owns 123,803 shares of the company’s stock, valued at $18,681,872.70. The trade was a 28.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 43,433 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total value of $9,089,223.91. Following the completion of the sale, the chief financial officer now directly owns 214,678 shares of the company’s stock, valued at approximately $44,925,665.06. The trade was a 16.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 330,810 shares of company stock valued at $69,243,820. 17.12% of the stock is currently owned by insiders.

Carvana Price Performance

Shares of NYSE:CVNA opened at $213.93 on Wednesday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a market capitalization of $45.60 billion, a PE ratio of 136.26 and a beta of 3.61. The firm has a 50 day moving average of $214.20 and a 200-day moving average of $220.77. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, equities research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Wedbush set a $250.00 price target on shares of Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada boosted their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Evercore ISI dropped their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.59.

Carvana 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.