Northern Trust Corp Boosts Holdings in Carvana Co. (NYSE:CVNA)

Northern Trust Corp grew its stake in shares of Carvana Co. (NYSE:CVNA) by 30.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 650,696 shares of the company’s stock after purchasing an additional 151,338 shares during the period. Northern Trust Corp owned approximately 0.31% of Carvana worth $132,326,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quent Capital LLC bought a new stake in shares of Carvana during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC increased its stake in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in Carvana during the 4th quarter valued at about $31,000. ORG Wealth Partners LLC bought a new stake in Carvana during the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc bought a new position in shares of Carvana during the fourth quarter valued at approximately $42,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Evercore ISI cut their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price target on Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Wells Fargo & Company cut their price objective on shares of Carvana from $310.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Robert W. Baird dropped their target price on shares of Carvana from $250.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. Finally, Piper Sandler boosted their price objective on shares of Carvana from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average price target of $254.76.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 123,803 shares of the company’s stock, valued at $18,681,872.70. This represents a 28.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total value of $2,501,200.00. Following the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 330,810 shares of company stock valued at $69,243,820. 17.12% of the stock is owned by corporate insiders.

Carvana Stock Up 2.1 %

Shares of CVNA stock opened at $257.19 on Friday. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $292.84. The company has a 50 day simple moving average of $205.81 and a two-hundred day simple moving average of $224.49. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a market cap of $54.82 billion, a P/E ratio of 163.82 and a beta of 3.61.

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

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.