Cerity Partners LLC Has $845,000 Stock Holdings in Carvana Co. (NYSE:CVNA)

Cerity Partners LLC lifted its stake in Carvana Co. (NYSE:CVNA) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,314 shares of the company’s stock after purchasing an additional 99 shares during the period. Cerity Partners LLC’s holdings in Carvana were worth $845,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Carvana in the 4th quarter valued at $75,000. MIG Capital LLC bought a new position in shares of Carvana during the 4th quarter valued at about $307,000. Russell Investments Group Ltd. increased its stake in Carvana by 22.2% during the 4th quarter. Russell Investments Group Ltd. now owns 31,293 shares of the company’s stock worth $6,391,000 after purchasing an additional 5,687 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Carvana by 2.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 35,242 shares of the company’s stock worth $7,167,000 after buying an additional 810 shares during the period. Finally, Aviva PLC acquired a new position in shares of Carvana in the fourth quarter valued at approximately $304,000. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 43,433 shares of Carvana stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the completion of the transaction, the chief financial officer now directly owns 214,678 shares of the company’s stock, valued at $44,925,665.06. The trade was a 16.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $150.90, for a total value of $7,545,000.00. Following the sale, the chief operating officer now directly owns 123,803 shares in the company, valued at approximately $18,681,872.70. This trade represents a 28.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 330,810 shares of company stock valued at $69,243,820. 17.12% of the stock is currently owned by corporate insiders.

Carvana Price Performance

Shares of CVNA opened at $211.03 on Friday. The firm has a market capitalization of $44.99 billion, a PE ratio of 134.42 and a beta of 3.61. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The company’s 50-day moving average is $210.77 and its 200-day moving average is $221.50. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Equities analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVNA. Stephens reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Royal Bank of Canada boosted their target price on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. JMP Securities lowered their price objective on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Citigroup decreased their target price on shares of Carvana from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $253.59.

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.