Carvana Co. $CVNA Stock Position Raised by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in shares of Carvana Co. (NYSE:CVNA) by 316.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,829 shares of the company’s stock after acquiring an additional 68,263 shares during the quarter. Van ECK Associates Corp’s holdings in Carvana were worth $5,913,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Carvana by 1.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after acquiring an additional 31 shares in the last quarter. Insigneo Advisory Services LLC raised its position in shares of Carvana by 4.8% during the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock valued at $294,000 after buying an additional 32 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Carvana by 6.2% in the 4th quarter. Benjamin Edwards Inc. now owns 586 shares of the company’s stock valued at $247,000 after acquiring an additional 34 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Carvana by 29.8% in the first quarter. SJS Investment Consulting Inc. now owns 183 shares of the company’s stock valued at $58,000 after purchasing an additional 42 shares in the last quarter. Finally, Moors & Cabot Inc. raised its stake in shares of Carvana by 5.7% in the 3rd quarter. Moors & Cabot Inc. now owns 813 shares of the company’s stock valued at $307,000 after buying an additional 44 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Trading Up 2.8%

CVNA opened at $74.19 on Thursday. The stock has a market capitalization of $81.64 billion, a P/E ratio of 41.04, a P/E/G ratio of 2.08 and a beta of 3.49. The firm’s fifty day simple moving average is $68.51 and its 200 day simple moving average is $68.24. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the firm earned $1.51 earnings per share. Carvana’s revenue for the quarter was up 52.4% compared to the same quarter last year. As a group, research analysts anticipate that Carvana Co. will post 1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on CVNA. Jefferies Financial Group cut their target price on Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. UBS Group reiterated a “buy” rating and set a $83.00 target price on shares of Carvana in a research report on Friday, July 31st. Citizens Jmp cut their price target on Carvana from $103.00 to $83.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 30th. BTIG Research restated a “buy” rating and issued a $87.00 price objective on shares of Carvana in a report on Tuesday, August 18th. Finally, Evercore set a $75.00 target price on Carvana in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $84.14.

Insider Activity

In other news, Director J Danforth Quayle sold 14,525 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $75.00, for a total value of $1,089,375.00. Following the completion of the sale, the director owned 214,960 shares of the company’s stock, valued at approximately $16,122,000. This represents a 6.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $3,225,000.00. Following the completion of the sale, the chief operating officer owned 535,709 shares of the company’s stock, valued at approximately $34,553,230.50. This represents a 8.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 302,147 shares of company stock worth $20,418,064. 15.19% of the stock is currently owned by company insiders.

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.