USA Financial Formulas Buys Shares of 737 Carvana Co. $CVNA

USA Financial Formulas bought a new stake in shares of Carvana Co. (NYSE:CVNA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 737 shares of the company’s stock, valued at approximately $248,000.

A number of other large investors also recently added to or reduced their stakes in CVNA. Wealth Enhancement Advisory Services LLC lifted its position in Carvana by 16.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company’s stock valued at $511,000 after purchasing an additional 348 shares during the period. Versant Capital Management Inc increased its stake in shares of Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company’s stock valued at $61,000 after acquiring an additional 82 shares during the last quarter. Wedmont Private Capital bought a new stake in shares of Carvana in the 1st quarter valued at about $307,000. Farther Finance Advisors LLC increased its stake in shares of Carvana by 333.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company’s stock valued at $740,000 after acquiring an additional 2,678 shares during the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of Carvana by 4.1% in the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock valued at $265,000 after acquiring an additional 50 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CVNA shares. Evercore ISI upped their price target on Carvana from $365.00 to $370.00 and gave the company an “in-line” rating in a research note on Tuesday, August 12th. JMP Securities upped their price target on Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Stephens reaffirmed an “overweight” rating and issued a $440.00 price target on shares of Carvana in a research note on Tuesday, September 23rd. Royal Bank Of Canada upped their price target on Carvana from $400.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, Citigroup reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $404.94.

Carvana Price Performance

NYSE CVNA opened at $394.49 on Friday. The stock has a market cap of $84.89 billion, a price-to-earnings ratio of 98.87, a PEG ratio of 1.30 and a beta of 3.55. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33. The business has a 50 day simple moving average of $363.74 and a 200 day simple moving average of $307.57. 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 quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business’s quarterly revenue was up 41.9% on a year-over-year basis. During the same period last year, the business earned ($0.05) EPS. Analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, major shareholder Ernest C. Garcia II sold 93,376 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the completion of the transaction, the insider directly owned 6,624 shares of the company’s stock, valued at $2,610,915.84. This trade represents a 93.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $352.36, for a total transaction of $35,236,000.00. Following the transaction, the insider directly owned 36,237,346 shares of the company’s stock, valued at $12,768,591,236.56. This represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,307,066 shares of company stock valued at $827,792,454 over the last ninety days. Company insiders own 17.12% of the company’s stock.

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.