Carvana Co. $CVNA Shares Bought by Capital Research Global Investors

Capital Research Global Investors lifted its position in Carvana Co. (NYSE:CVNA) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,989,809 shares of the company’s stock after purchasing an additional 18,631 shares during the quarter. Capital Research Global Investors’ holdings in Carvana were worth $1,505,186,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in Carvana by 124.9% in the third quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock valued at $100,316,000 after buying an additional 147,683 shares in the last quarter. Hudson Bay Capital Management LP increased its holdings in Carvana by 158.0% during the 2nd quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after acquiring an additional 10,090 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Carvana by 11.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock valued at $240,476,000 after acquiring an additional 64,424 shares in the last quarter. Strs Ohio increased its stake in shares of Carvana by 89.9% during the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock worth $14,243,000 after purchasing an additional 17,878 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Carvana by 14.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock valued at $76,662,000 after buying an additional 24,129 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVNA. Jefferies Financial Group decreased their price target on shares of Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Carvana from $600.00 to $519.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Royal Bank Of Canada reduced their price target on shares of Carvana from $500.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Argus raised shares of Carvana to a “strong-buy” rating in a research note on Tuesday, March 3rd. Finally, Bank of America decreased their price target on shares of Carvana from $460.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. One equities 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $440.59.

Carvana Trading Up 3.5%

Shares of CVNA opened at $328.74 on Tuesday. Carvana Co. has a one year low of $148.25 and a one year high of $486.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31. The company has a market capitalization of $71.94 billion, a P/E ratio of 40.89 and a beta of 3.60. The stock has a 50-day moving average price of $397.33 and a 200 day moving average price of $380.49.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) 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 the consensus estimate of $5.24 billion. During the same quarter last year, the business posted $0.56 EPS. The business’s revenue was up 58.0% on a year-over-year basis. Sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, insider Thomas Taira sold 10,000 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $475.00, for a total value of $4,750,000.00. Following the completion of the sale, the insider directly owned 69,880 shares of the company’s stock, valued at $33,193,000. This represents a 12.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $403.02, for a total transaction of $5,138,505.00. Following the sale, the chief financial officer owned 204,036 shares in the company, valued at approximately $82,230,588.72. This trade represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 132,621 shares of company stock valued at $59,163,610. Corporate insiders own 16.36% of the company’s stock.

Carvana 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.