Central Pacific Bank Trust Division Acquires New Shares in Carvana Co. (NYSE:CVNA)

Central Pacific Bank Trust Division bought a new position in shares of Carvana Co. (NYSE:CVNA) in the 4th quarter, HoldingsChannel.com reports. The fund bought 2,993 shares of the company’s stock, valued at approximately $609,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana during the 3rd quarter worth $32,000. Versant Capital Management Inc purchased a new position in Carvana during the fourth quarter worth about $42,000. Capital Performance Advisors LLP acquired a new stake in shares of Carvana during the third quarter valued at about $40,000. First Horizon Advisors Inc. raised its stake in shares of Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after acquiring an additional 196 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Carvana in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Evercore ISI lifted their target price on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Piper Sandler boosted their price objective on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC raised their target price on Carvana from $300.00 to $330.00 and gave the company a “buy” rating in a report on Monday, December 9th. Bank of America boosted their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $229.18.

Insider Transactions at Carvana

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the transaction, the insider now directly owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $180.49, for a total transaction of $18,049,000.00. Following the sale, the insider now owns 38,658,131 shares of the company’s stock, valued at approximately $6,977,406,064.19. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,251,908 shares of company stock valued at $255,943,285. Corporate insiders own 17.18% of the company’s stock.

Carvana Stock Down 11.2 %

Carvana stock opened at $177.16 on Friday. The stock has a 50 day moving average of $236.67 and a two-hundred day moving average of $180.45. Carvana Co. has a twelve month low of $40.21 and a twelve month high of $268.34. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a market capitalization of $36.78 billion, a price-to-earnings ratio of 17,733.73 and a beta of 3.32.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The company’s revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. As a group, research analysts expect that Carvana Co. will post 0.76 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.