Alberta Investment Management Corp Invests $3.52 Million in Carvana Co. (NYSE:CVNA)

Alberta Investment Management Corp acquired a new position in Carvana Co. (NYSE:CVNA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,300 shares of the company’s stock, valued at approximately $3,518,000.

A number of other institutional investors also recently bought and sold shares of the stock. Raymond James & Associates increased its position in Carvana by 28.8% in the third quarter. Raymond James & Associates now owns 13,577 shares of the company’s stock worth $2,364,000 after buying an additional 3,033 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Carvana by 2.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock valued at $1,066,000 after acquiring an additional 175 shares during the period. Signaturefd LLC increased its holdings in Carvana by 30.9% in the 3rd quarter. Signaturefd LLC now owns 1,842 shares of the company’s stock worth $321,000 after acquiring an additional 435 shares in the last quarter. Private Advisor Group LLC raised its stake in Carvana by 16.7% during the 3rd quarter. Private Advisor Group LLC now owns 30,514 shares of the company’s stock worth $5,313,000 after acquiring an additional 4,372 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in Carvana during the 3rd quarter worth approximately $1,443,000. 56.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVNA. Wedbush reissued a “neutral” rating and issued a $250.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Royal Bank of Canada upped 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. Wells Fargo & Company decreased their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Evercore ISI upped their price objective on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $259.00.

Carvana Trading Down 12.0 %

Shares of CVNA opened at $248.03 on Friday. Carvana Co. has a fifty-two week low of $48.15 and a fifty-two week high of $292.84. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The company’s fifty day moving average is $234.85 and its 200 day moving average is $207.18. The stock has a market capitalization of $51.50 billion, a PE ratio of 24,827.83 and a beta of 3.37.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Sell-side analysts expect that Carvana Co. will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares in the company, valued at $48,402,338.27. This trade represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the transaction, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 173,629 shares of company stock valued at $44,833,799 over the last ninety days. 17.12% of the stock is owned by insiders.

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.