1,098 Shares in Carvana Co. (NYSE:CVNA) Bought by Cigna Investments Inc. New

Cigna Investments Inc. New acquired a new stake in shares of Carvana Co. (NYSE:CVNA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,098 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVNA. Empowered Funds LLC boosted its stake in shares of Carvana by 3.6% in the fourth quarter. Empowered Funds LLC now owns 2,936 shares of the company’s stock worth $597,000 after acquiring an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Carvana by 133.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,222 shares of the company’s stock valued at $655,000 after purchasing an additional 1,839 shares in the last quarter. Fairvoy Private Wealth LLC acquired a new stake in Carvana during the 4th quarter worth $847,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Carvana during the 4th quarter worth $2,091,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Carvana by 8,600.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 219,256 shares of the company’s stock worth $44,588,000 after buying an additional 216,736 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Price Performance

Carvana stock opened at $270.45 on Wednesday. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The company has a market capitalization of $56.15 billion, a price-to-earnings ratio of 27,071.57 and a beta of 3.37. The company’s 50 day simple moving average is $231.25 and its 200-day simple moving average is $201.27. Carvana Co. has a 1 year low of $48.15 and a 1 year high of $272.96.

Insider Buying and Selling at Carvana

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of the firm’s stock in a transaction that occurred on 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 owns 151,029 shares of the company’s stock, valued at $37,440,089.10. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the sale, the chief financial officer now directly owns 189,761 shares in the company, valued at $48,402,338.27. This represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,845 shares of company stock valued at $30,742,656 over the last quarter. 17.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVNA shares. Robert W. Baird raised their price target on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Citigroup raised shares of Carvana from a “neutral” rating to a “buy” rating and raised their target price for the stock from $195.00 to $277.00 in a research note on Wednesday, January 8th. Stephens restated an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research report on Thursday, February 6th. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Finally, Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and an average price target of $249.29.

Carvana Company Profile

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.