Rakuten Securities Inc. Purchases Shares of 3,407 Carvana Co. (NYSE:CVNA)

Rakuten Securities Inc. purchased a new stake in Carvana Co. (NYSE:CVNA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,407 shares of the company’s stock, valued at approximately $180,000.

Other hedge funds also recently added to or reduced their stakes in the company. Imprint Wealth LLC acquired a new position in shares of Carvana in the fourth quarter worth about $481,000. International Assets Investment Management LLC acquired a new position in shares of Carvana in the fourth quarter worth about $5,610,000. Stratos Wealth Partners LTD. acquired a new position in shares of Carvana in the fourth quarter worth about $380,000. True North Advisors LLC acquired a new position in shares of Carvana in the fourth quarter worth about $238,000. Finally, Blue Trust Inc. acquired a new position in shares of Carvana in the fourth quarter worth about $29,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Down 2.1 %

Shares of NYSE CVNA opened at $69.16 on Thursday. Carvana Co. has a 12-month low of $6.70 and a 12-month high of $94.04. The stock has a market cap of $13.96 billion, a PE ratio of 128.08 and a beta of 3.32. The company has a 50-day moving average of $74.47 and a 200 day moving average of $51.99.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the company posted ($0.97) earnings per share. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that Carvana Co. will post -3.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on CVNA shares. Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and upped their price target for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. JMP Securities restated a “market outperform” rating and set a $80.00 price target on shares of Carvana in a research report on Wednesday. Morgan Stanley upped their price target on shares of Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Finally, William Blair upgraded shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.53.

Insider Activity

In other news, insider Thomas Taira sold 4,197 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total value of $347,679.48. Following the completion of the sale, the insider now owns 164,827 shares of the company’s stock, valued at approximately $13,654,268.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Neha Parikh purchased 1,300 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was acquired at an average price of $77.00 per share, with a total value of $100,100.00. Following the purchase, the director now directly owns 58,495 shares in the company, valued at approximately $4,504,115. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas Taira sold 4,197 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $82.84, for a total transaction of $347,679.48. Following the transaction, the insider now directly owns 164,827 shares of the company’s stock, valued at approximately $13,654,268.68. The disclosure for this sale can be found here. Insiders sold a total of 187,883 shares of company stock valued at $15,505,178 in the last 90 days. Company insiders own 17.12% of the company’s stock.

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.