iA Global Asset Management Inc. Invests $1.10 Million in Carvana Co. $CVNA

iA Global Asset Management Inc. purchased a new stake in Carvana Co. (NYSE:CVNA) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,906 shares of the company’s stock, valued at approximately $1,096,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SJS Investment Consulting Inc. lifted its holdings in Carvana by 28.3% in the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after acquiring an additional 30 shares during the period. Warren Street Wealth Advisors LLC grew its stake in shares of Carvana by 2.8% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock worth $388,000 after purchasing an additional 31 shares during the period. MAI Capital Management increased its holdings in shares of Carvana by 1.8% in the 2nd quarter. MAI Capital Management now owns 1,757 shares of the company’s stock valued at $592,000 after purchasing an additional 31 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Carvana by 23.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock valued at $62,000 after purchasing an additional 31 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Carvana by 1.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity

In other news, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $419.48, for a total transaction of $419,480.00. Following the completion of the sale, the vice president directly owned 38,744 shares in the company, valued at $16,252,333.12. The trade was a 2.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel J. Gill sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the completion of the transaction, the insider directly owned 191,106 shares of the company’s stock, valued at approximately $90,821,215.44. This represents a 17.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 467,626 shares of company stock worth $192,090,109 in the last quarter. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research analyst reports. Jefferies Financial Group increased their target price on shares of Carvana from $475.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. upped their price target on Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Argus started coverage on Carvana in a report on Monday, December 15th. They set a “buy” rating and a $500.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $500.00 target price on shares of Carvana in a research report on Monday, November 17th. Finally, Wall Street Zen lowered Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Carvana presently has an average rating of “Moderate Buy” and an average price target of $468.59.

Carvana Price Performance

CVNA stock opened at $473.08 on Friday. The stock’s 50 day moving average price is $420.06 and its 200 day moving average price is $376.03. The firm has a market cap of $102.91 billion, a P/E ratio of 108.01, a PEG ratio of 1.14 and a beta of 3.54. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $486.89.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period last year, the firm earned $0.64 earnings per share. The business’s revenue was up 54.5% compared to the same quarter last year. On average, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.