Commerce Bank Acquires 69 Shares of Carvana Co. (NYSE:CVNA)

Commerce Bank boosted its stake in shares of Carvana Co. (NYSE:CVNA) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,446 shares of the company’s stock after buying an additional 69 shares during the period. Commerce Bank’s holdings in Carvana were worth $930,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CVNA. N.E.W. Advisory Services LLC bought a new position in shares of Carvana during the 1st quarter worth approximately $33,000. Transce3nd LLC purchased a new position in Carvana in the fourth quarter worth $48,000. Versant Capital Management Inc grew its holdings in Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company’s stock worth $61,000 after purchasing an additional 82 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Carvana during the fourth quarter worth $75,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Carvana during the 4th quarter valued at $98,000. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

Shares of CVNA opened at $351.43 on Wednesday. The business’s 50-day moving average is $335.47 and its two-hundred day moving average is $269.54. The company has a market capitalization of $75.26 billion, a P/E ratio of 88.08, a P/E/G ratio of 1.19 and a beta of 3.57. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The company’s revenue was up 41.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Thomas Taira sold 10,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $375.04, for a total value of $3,750,400.00. Following the completion of the transaction, the insider directly owned 120,159 shares in the company, valued at $45,064,431.36. The trade was a 7.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ernest C. Garcia III sold 2,746 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $369.10, for a total transaction of $1,013,548.60. Following the sale, the chief executive officer directly owned 581,440 shares in the company, valued at $214,609,504. This trade represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,787,202 shares of company stock worth $951,316,546. Corporate insiders own 16.36% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several research analyst reports. Stephens boosted their target price on Carvana from $300.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Morgan Stanley boosted their price target on Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Piper Sandler upped their price objective on shares of Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Finally, Bank of America boosted their target price on shares of Carvana from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.65.

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.