Carvana Co. $CVNA Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its stake in Carvana Co. (NYSE:CVNA) by 11.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,472 shares of the company’s stock after purchasing an additional 2,321 shares during the quarter. Wealthfront Advisers LLC’s holdings in Carvana were worth $8,855,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Carvana by 1.8% in the second quarter. Vanguard Group Inc. now owns 12,764,230 shares of the company’s stock worth $4,301,035,000 after buying an additional 229,387 shares during the last quarter. State Street Corp grew its holdings in shares of Carvana by 15.0% during the second quarter. State Street Corp now owns 2,765,046 shares of the company’s stock valued at $931,710,000 after buying an additional 361,624 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Carvana by 11.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock valued at $750,301,000 after acquiring an additional 221,161 shares during the period. Sands Capital Management LLC raised its stake in Carvana by 1,374.3% in the 2nd quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock worth $303,677,000 after acquiring an additional 840,096 shares during the last quarter. Finally, Norges Bank acquired a new stake in Carvana during the 2nd quarter worth about $259,468,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of NYSE CVNA opened at $364.79 on Thursday. The company has a market capitalization of $79.36 billion, a PE ratio of 83.29, a price-to-earnings-growth ratio of 0.95 and a beta of 3.57. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The company’s fifty day moving average price is $436.75 and its 200 day moving average price is $382.24. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $486.89.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CVNA shares. Wedbush increased their price objective on Carvana from $400.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, December 19th. Bank of America increased their price target on shares of Carvana from $455.00 to $515.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $500.00 price objective on shares of Carvana in a research note on Monday, November 17th. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $474.27.

Insider Buying and Selling at Carvana

In other Carvana news, COO Benjamin E. Huston sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $411.27, for a total value of $4,112,700.00. Following the sale, the chief operating officer directly owned 98,652 shares of the company’s stock, valued at approximately $40,572,608.04. This trade represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $475.24, for a total value of $19,009,600.00. Following the transaction, the insider directly owned 191,106 shares of the company’s stock, valued at approximately $90,821,215.44. The trade was a 17.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 420,351 shares of company stock worth $179,589,049. 17.12% of the stock is currently owned by company insiders.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.