8,807 Shares in Carvana Co. $CVNA Bought by Cvfg LLC

Cvfg LLC acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,807 shares of the company’s stock, valued at approximately $2,769,000.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its position in shares of Carvana by 40.8% during the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after purchasing an additional 8,654 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after buying an additional 181 shares during the last quarter. Cerity Partners LLC increased its stake in Carvana by 28.8% during the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after buying an additional 1,226 shares in the last quarter. AXA S.A. increased its stake in Carvana by 340.7% during the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after buying an additional 3,288 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Carvana by 9.1% during the second quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock valued at $3,334,000 after acquiring an additional 825 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BTIG Research restated a “buy” rating and issued a $97.00 target price on shares of Carvana in a research report on Friday, June 5th. Barclays set a $93.00 price objective on Carvana and gave the company an “overweight” rating in a research note on Thursday, May 14th. Wells Fargo & Company raised their price objective on Carvana from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. DA Davidson lifted their target price on shares of Carvana from $64.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Morgan Stanley upped their target price on shares of Carvana from $90.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.14.

Carvana Stock Performance

Shares of Carvana stock opened at $67.60 on Wednesday. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a market cap of $74.15 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 11.88 and a beta of 3.46. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The business’s 50 day moving average price is $69.69 and its 200 day moving average price is $73.47.

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

Insider Buying and Selling at Carvana

In related news, Director J Danforth Quayle sold 14,525 shares of the firm’s 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 completion of the sale, the director directly owned 214,960 shares in the company, valued at approximately $15,047,200. This trade represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Taira sold 5,597 shares of Carvana stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $67.15, for a total transaction of $375,838.55. Following the transaction, the insider directly owned 315,075 shares in the company, valued at $21,157,286.25. This trade represents a 1.75% decrease in their ownership of the stock. 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 90 days, insiders have sold 396,962 shares of company stock worth $28,525,088. Corporate insiders own 15.19% 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.