Rakuten Securities Inc. Makes New $180,000 Investment in Carvana Co. (NYSE:CVNA)

Rakuten Securities Inc. acquired a new stake in shares of Carvana Co. (NYSE:CVNA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,407 shares of the company’s stock, valued at approximately $180,000.

Other hedge funds have also recently modified their holdings of the company. Morgan Stanley grew its stake in shares of Carvana by 13.8% in the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after buying an additional 1,784,009 shares during the last quarter. Spruce House Investment Management LLC increased its holdings in shares of Carvana by 52.7% during the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after acquiring an additional 3,450,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Carvana by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after purchasing an additional 62,820 shares during the last quarter. FMR LLC boosted its stake in Carvana by 0.5% in the 3rd quarter. FMR LLC now owns 4,696,510 shares of the company’s stock worth $197,160,000 after purchasing an additional 24,560 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Carvana during the 4th quarter valued at about $14,102,000. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now owns 150,126 shares of the company’s stock, valued at $10,358,694. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul W. Breaux sold 20,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the sale, the insider now directly owns 115,032 shares in the company, valued at approximately $10,237,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the transaction, the insider now owns 150,126 shares in the company, valued at approximately $10,358,694. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,883 shares of company stock valued at $15,505,178. 17.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CVNA shares. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. Morgan Stanley upped their price objective on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. Wedbush lifted their target price on Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Evercore ISI decreased their price target on Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of Carvana in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.53.

Carvana Stock Down 2.1 %

NYSE CVNA opened at $69.16 on Thursday. The company has a 50-day moving average price of $74.47 and a 200-day moving average price of $51.99. Carvana Co. has a 52 week low of $6.70 and a 52 week high of $94.04. The firm has a market capitalization of $13.96 billion, a P/E ratio of 128.08 and a beta of 3.32.

Carvana (NYSE:CVNA) last announced its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The company’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.97) earnings per share. As a group, equities research analysts anticipate that Carvana Co. will post -3.4 EPS for the current 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.