Tokio Marine Asset Management Co. Ltd. Makes New $1.69 Million Investment in Carvana Co. $CVNA

Tokio Marine Asset Management Co. Ltd. purchased a new position in Carvana Co. (NYSE:CVNA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,474 shares of the company’s stock, valued at approximately $1,688,000.

Several other large investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Carvana by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 278,033 shares of the company’s stock valued at $104,885,000 after purchasing an additional 2,359 shares in the last quarter. First Horizon Corp acquired a new position in shares of Carvana during the 3rd quarter worth approximately $148,000. ORG Partners LLC boosted its stake in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after buying an additional 87 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in Carvana in the 3rd quarter valued at $203,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Carvana in the 3rd quarter worth $38,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Benjamin E. Huston sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $401.94, for a total value of $4,019,400.00. Following the sale, the chief operating officer owned 99,871 shares of the company’s stock, valued at $40,142,149.74. This trade represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stephen R. Palmer sold 1,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $419.48, for a total value of $419,480.00. Following the completion of the sale, the vice president owned 38,744 shares in the company, valued at approximately $16,252,333.12. This represents a 2.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 467,626 shares of company stock valued at $192,090,109. 16.36% of the stock is owned by corporate insiders.

Carvana Trading Up 0.3%

NYSE CVNA opened at $464.48 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The firm has a market cap of $101.04 billion, a price-to-earnings ratio of 106.05, a PEG ratio of 1.08 and a beta of 3.54. The firm has a 50 day simple moving average of $394.19 and a 200-day simple moving average of $368.95. Carvana Co. has a one year low of $148.25 and a one year high of $485.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue was up 54.5% compared to the same quarter last year. Equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CVNA shares. Barclays raised their price objective on shares of Carvana from $390.00 to $465.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Argus initiated coverage on Carvana in a research report on Monday, December 15th. They set a “buy” rating and a $500.00 price objective for the company. Wedbush boosted their price objective on shares of Carvana from $400.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, December 19th. JPMorgan Chase & Co. lifted their price target on shares of Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $451.14.

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.