Orion Portfolio Solutions LLC Grows Stock Position in Carvana Co. (NYSE:CVNA)

Orion Portfolio Solutions LLC boosted its position in shares of Carvana Co. (NYSE:CVNA) by 8.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,038 shares of the company’s stock after buying an additional 167 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Carvana were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Carvana during the fourth quarter valued at approximately $179,364,000. Vanguard Group Inc. lifted its stake in shares of Carvana by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after buying an additional 610,234 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Carvana by 1,454.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after acquiring an additional 503,824 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Carvana during the fourth quarter valued at $60,866,000. Finally, Prudential Financial Inc. lifted its stake in Carvana by 204.1% during the 4th quarter. Prudential Financial Inc. now owns 405,462 shares of the company’s stock valued at $82,455,000 after acquiring an additional 272,114 shares during the period. 56.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVNA. Morgan Stanley upgraded Carvana from an “underweight” rating to an “overweight” rating in a research note on Monday, March 31st. Royal Bank of Canada lifted their price target on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Bank of America dropped their price objective on Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Finally, Wells Fargo & Company cut 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. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $256.24.

Carvana Stock Performance

Shares of Carvana stock opened at $176.33 on Wednesday. The stock’s fifty day moving average is $219.24 and its two-hundred day moving average is $219.46. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $37.59 billion, a PE ratio of 112.31 and a beta of 3.61. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the completion of the sale, the insider now owns 179,673 shares of the company’s stock, valued at $40,431,815.19. This trade represents a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 280,810 shares of company stock worth $61,698,820. 16.36% of the stock is currently owned by corporate 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.