Optimist Retirement Group LLC Has $235,000 Position in Carvana Co. (NYSE:CVNA)

Optimist Retirement Group LLC lessened its stake in shares of Carvana Co. (NYSE:CVNA) by 30.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,158 shares of the company’s stock after selling 504 shares during the period. Optimist Retirement Group LLC’s holdings in Carvana were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVNA. FMR LLC increased its position in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares during the period. State Street Corp grew its stake in Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after buying an additional 107,610 shares in the last quarter. Geode Capital Management LLC grew its stake in Carvana by 7.8% during the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after buying an additional 131,059 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in Carvana in the 3rd quarter valued at about $162,953,000. Finally, Holocene Advisors LP raised its position in shares of Carvana by 108.2% in the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock valued at $96,476,000 after buying an additional 287,983 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Price Performance

CVNA stock opened at $256.08 on Thursday. The company has a market capitalization of $53.17 billion, a P/E ratio of 25,633.83 and a beta of 3.37. The company has a fifty day moving average price of $230.46 and a 200-day moving average price of $196.87. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana Co. has a 52-week low of $43.87 and a 52-week high of $268.34.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Wells Fargo & Company lowered their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Carvana in a research note on Tuesday, January 7th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and ten 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 target price of $244.88.

Insider Activity at Carvana

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the sale, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the transaction, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 123,845 shares of company stock worth $30,742,656 over the last three months. Company insiders own 17.18% of the company’s stock.

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.