Rakuten Investment Management Inc. Purchases 9,403 Shares of Carvana Co. $CVNA

Rakuten Investment Management Inc. increased its position in shares of Carvana Co. (NYSE:CVNA) by 107.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,170 shares of the company’s stock after purchasing an additional 9,403 shares during the period. Rakuten Investment Management Inc.’s holdings in Carvana were worth $7,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Gavilan Investment Partners LLC bought a new stake in shares of Carvana during the third quarter valued at approximately $26,030,000. Sands Capital Management LLC increased its position in shares of Carvana by 44.4% during the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock valued at $1,030,798,000 after purchasing an additional 751,019 shares during the period. Intech Investment Management LLC increased its position in shares of Carvana by 301.4% during the third quarter. Intech Investment Management LLC now owns 7,230 shares of the company’s stock valued at $2,727,000 after purchasing an additional 5,429 shares during the period. TD Asset Management Inc lifted its stake in Carvana by 5.2% during the third quarter. TD Asset Management Inc now owns 133,811 shares of the company’s stock worth $50,479,000 after purchasing an additional 6,643 shares during the period. Finally, Picton Mahoney Asset Management lifted its stake in Carvana by 581.4% during the third quarter. Picton Mahoney Asset Management now owns 16,491 shares of the company’s stock worth $6,220,000 after purchasing an additional 14,071 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Up 1.5%

CVNA opened at $69.96 on Wednesday. The firm’s 50-day simple moving average is $71.47 and its 200-day simple moving average is $75.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The firm has a market cap of $76.73 billion, a price-to-earnings ratio of 42.55, a PEG ratio of 11.63 and a beta of 3.45.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Equities research analysts anticipate that Carvana Co. will post 1.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on CVNA. Gordon Haskett raised their price target on shares of Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Wedbush cut their price target on shares of Carvana from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Evercore boosted their price target on Carvana from $78.00 to $80.00 in a research note on Tuesday, April 28th. Citigroup reaffirmed an “outperform” rating on shares of Carvana in a research note on Friday, May 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Friday, March 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.14.

Trending Headlines about Carvana

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana is expanding beyond used cars and has purchased seven new-vehicle franchises since last year, a move that could broaden its revenue base and potentially disrupt the traditional dealership model. Carvana is expanding into new vehicles. The implications could reshape the U.S. automotive retail market
• Positive Sentiment: Wall Street price targets imply roughly 37% upside for CVNA, and the recent trend in earnings estimate revisions suggests analysts remain constructive on the company’s outlook. Can Carvana (CVNA) Climb 37.01% to Reach the Level Wall Street Analysts Expect?
• Positive Sentiment: Market commentary has also been favorable, with Jim Cramer calling Carvana “a great buy,” which may have helped reinforce bullish sentiment among retail investors. Jim Cramer Notes “Carvana Was a Great Buy for Us”
• Neutral Sentiment: Carvana shares have been rising while the broader market has been weaker, indicating relative strength rather than a clear company-specific catalyst from the latest trading session. Carvana (CVNA) Ascends While Market Falls: Some Facts to Note
• Neutral Sentiment: A director sold 15,000 shares at $67.83, but the transaction was relatively small versus the insider’s remaining holdings and does not necessarily signal a major shift in fundamentals. SEC Form 4 filing for Ira J. Platt

Insider Buying and Selling

In other Carvana news, Director J Danforth Quayle sold 14,525 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the sale, the director owned 214,960 shares of the company’s stock, valued at $15,047,200. This represents a 6.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $61.97, for a total transaction of $3,098,600.00. Following the sale, the chief operating officer directly owned 464,620 shares in the company, valued at approximately $28,793,430.64. This represents a 9.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 415,812 shares of company stock valued at $29,056,896. Insiders own 15.19% of the company’s stock.

About Carvana

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.