Envestnet Portfolio Solutions Inc. Purchases 236 Shares of Carvana Co. (NYSE:CVNA)

Envestnet Portfolio Solutions Inc. grew its position in Carvana Co. (NYSE:CVNA) by 19.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,468 shares of the company’s stock after buying an additional 236 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Carvana were worth $299,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVNA. Charles Schwab Investment Management Inc. increased its holdings in shares of Carvana by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock worth $94,148,000 after acquiring an additional 39,089 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Carvana by 135.5% in the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock valued at $1,062,000 after purchasing an additional 2,994 shares during the period. Bank of New York Mellon Corp increased its stake in Carvana by 37.7% during the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock worth $97,305,000 after purchasing an additional 130,942 shares in the last quarter. Oak Thistle LLC raised its holdings in Carvana by 115.9% during the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock worth $658,000 after buying an additional 1,738 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Carvana by 33.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock valued at $77,807,000 after buying an additional 95,497 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the transaction, the chief financial officer now directly owns 189,097 shares in the company, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares in the company, valued at approximately $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 a total of 197,377 shares of company stock valued at $44,251,096 over the last 90 days. 17.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVNA. Citigroup increased their price objective on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Evercore ISI cut their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, March 11th. Royal Bank of Canada increased their price objective on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday. 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, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $261.53.

Carvana Price Performance

Shares of CVNA opened at $204.45 on Friday. The company has a market cap of $43.58 billion, a price-to-earnings ratio of 130.22 and a beta of 3.56. 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 company’s fifty day simple moving average is $227.77 and its 200 day simple moving average is $216.41. Carvana Co. has a 1-year low of $67.61 and a 1-year 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, topping the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.