Capital World Investors Boosts Stock Holdings in Carvana Co. $CVNA

Capital World Investors lifted its position in Carvana Co. (NYSE:CVNA) by 28.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 806,243 shares of the company’s stock after purchasing an additional 180,185 shares during the period. Capital World Investors’ holdings in Carvana were worth $304,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC grew its position in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares during the period. Washington Trust Advisors Inc. acquired a new position in shares of Carvana in the third quarter worth about $38,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Carvana in the third quarter worth about $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Carvana during the 2nd quarter worth about $38,000. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Carvana by 28.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock worth $51,000 after acquiring an additional 30 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Down 2.9%

CVNA stock opened at $309.49 on Thursday. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average of $392.86 and a two-hundred day moving average of $379.72. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $486.89. The company has a market cap of $67.73 billion, a price-to-earnings ratio of 38.49 and a beta of 3.60.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, topping the consensus estimate of $1.10 by $3.12. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 58.0% compared to the same quarter last year. As a group, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 12,750 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $403.02, for a total value of $5,138,505.00. Following the completion of the sale, the chief financial officer directly owned 204,036 shares of the company’s stock, valued at $82,230,588.72. This trade represents a 5.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Taira sold 10,000 shares of Carvana stock in a transaction on Friday, December 12th. The stock was sold at an average price of $475.00, for a total value of $4,750,000.00. Following the transaction, the insider owned 69,880 shares in the company, valued at approximately $33,193,000. This represents a 12.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 125,101 shares of company stock valued at $55,448,660 in the last three months. Company insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings upgraded Carvana from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. Wells Fargo & Company lowered their price target on Carvana from $525.00 to $425.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. BTIG Research dropped their price objective on Carvana from $535.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. DA Davidson cut their price objective on Carvana from $470.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday, February 19th. Finally, Evercore reduced their target price on Carvana from $430.00 to $390.00 in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $440.59.

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.