Carvana Co. $CVNA Shares Acquired by Spire Wealth Management

Spire Wealth Management lifted its position in shares of Carvana Co. (NYSE:CVNA) by 575.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 540 shares of the company’s stock after acquiring an additional 460 shares during the period. Spire Wealth Management’s holdings in Carvana were worth $182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after buying an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after buying an additional 1,109,476 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Carvana by 1.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock worth $144,835,000 after buying an additional 9,694 shares during the last quarter. Northern Trust Corp raised its stake in shares of Carvana by 5.4% during the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock worth $143,400,000 after buying an additional 35,168 shares during the last quarter. Finally, Contour Asset Management LLC raised its stake in shares of Carvana by 71.4% during the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock worth $134,462,000 after buying an additional 267,994 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Down 6.7%

CVNA opened at $309.91 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The stock has a market capitalization of $66.69 billion, a price-to-earnings ratio of 70.76, a price-to-earnings-growth ratio of 1.20 and a beta of 3.50. The business has a 50-day moving average of $360.77 and a two-hundred day moving average of $333.43. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. On average, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, insider Ryan S. Keeton sold 32,370 shares of Carvana stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $301.68, for a total value of $9,765,381.60. Following the completion of the sale, the insider owned 115,456 shares in the company, valued at $34,830,766.08. The trade was a 21.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $305.00, for a total value of $305,000.00. Following the completion of the sale, the vice president owned 41,868 shares of the company’s stock, valued at $12,769,740. This trade represents a 2.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 853,475 shares of company stock worth $304,498,378 over the last ninety days. Insiders own 16.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CVNA. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Carvana in a research note on Tuesday, October 14th. William Blair reissued an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Stephens reissued an “overweight” rating and issued a $440.00 target price on shares of Carvana in a research note on Tuesday, September 23rd. Evercore ISI cut their target price on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $500.00 target price on shares of Carvana in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $415.50.

Carvana 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.