Allstate Corp Takes Position in Carvana Co. (NYSE:CVNA)

Allstate Corp acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,329 shares of the company’s stock, valued at approximately $677,000.

Other large investors have also added to or reduced their stakes in the company. Whale Rock Capital Management LLC bought a new position in shares of Carvana in the third quarter valued at approximately $162,953,000. Norges Bank bought a new position in Carvana in the 4th quarter valued at $179,364,000. Vanguard Group Inc. grew its position in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock worth $93,754,000 after purchasing an additional 503,824 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Carvana in the fourth quarter worth $60,866,000. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other Carvana news, insider Thomas Taira sold 27,593 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the transaction, the insider now owns 179,673 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.35, for a total value of $10,517,500.00. Following the transaction, the chief operating officer now directly owns 146,278 shares of the company’s stock, valued at $30,769,577.30. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,377 shares of company stock valued at $44,251,096 over the last three months. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CVNA shares. Wedbush set a $250.00 target price on Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Evercore ISI decreased their price objective on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Stephens reiterated an “overweight” rating and set a $300.00 target price on shares of Carvana in a research report on Monday, March 3rd. Bank of America decreased their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, Wells Fargo & Company lowered 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 research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $261.53.

Carvana Stock Up 2.3 %

Shares of Carvana stock opened at $209.15 on Tuesday. The company’s 50 day moving average price is $226.82 and its 200-day moving average price is $218.57. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock has a market capitalization of $44.58 billion, a price-to-earnings ratio of 133.21 and a beta of 3.56.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for 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%. Equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

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.