Carvana Co. $CVNA Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Carvana Co. (NYSE:CVNA) by 9.3% during the third quarter, Holdings Channel.com reports. The fund owned 112,735 shares of the company’s stock after acquiring an additional 9,636 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Carvana were worth $42,528,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its holdings in shares of Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after purchasing an additional 87 shares in the last quarter. Washington Trust Advisors Inc. purchased a new position in shares of Carvana during the 3rd quarter worth approximately $38,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Carvana during the 3rd quarter worth approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Carvana in the 2nd quarter valued at approximately $38,000. Finally, SJS Investment Consulting Inc. grew its holdings in Carvana by 28.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after buying an additional 30 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Daniel J. Gill sold 80,000 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $439.50, for a total value of $35,160,000.00. Following the completion of the sale, the insider owned 191,106 shares in the company, valued at approximately $83,991,087. This trade represents a 29.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Taira sold 30,952 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $435.96, for a total transaction of $13,493,833.92. Following the completion of the sale, the insider directly owned 69,880 shares of the company’s stock, valued at $30,464,884.80. This trade represents a 30.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 390,351 shares of company stock worth $168,588,549. 17.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of analyst reports. BTIG Research cut their price target on Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Citigroup dropped their price objective on Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Gordon Haskett cut their target price on shares of Carvana from $435.00 to $350.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Jefferies Financial Group reduced their target price on shares of Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Finally, Weiss Ratings upgraded shares of Carvana from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $440.59.

Carvana Price Performance

CVNA opened at $334.31 on Friday. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $486.89. The company’s 50 day simple moving average is $411.14 and its 200 day simple moving average is $381.26. The stock has a market capitalization of $73.16 billion, a PE ratio of 41.58 and a beta of 3.57. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $3.12. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter last year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was up 58.0% compared to the same quarter last year. As a group, sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Carvana Company 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.