Capital Research Global Investors Increases Stock Position in Carvana Co. $CVNA

Capital Research Global Investors increased its holdings in Carvana Co. (NYSE:CVNA) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,989,809 shares of the company’s stock after purchasing an additional 18,631 shares during the period. Capital Research Global Investors owned approximately 1.83% of Carvana worth $1,505,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. lifted 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 during the last quarter. MAI Capital Management boosted its position in Carvana by 1.8% during the 2nd quarter. MAI Capital Management now owns 1,757 shares of the company’s stock valued at $592,000 after acquiring an additional 31 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Carvana by 23.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock valued at $62,000 after buying an additional 31 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its stake in Carvana by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after buying an additional 31 shares during the last quarter. Finally, WPG Advisers LLC grew its stake in shares of Carvana by 17.2% during the third quarter. WPG Advisers LLC now owns 218 shares of the company’s stock worth $82,000 after acquiring an additional 32 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Carvana

In other news, Director J Danforth Quayle sold 2,900 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $309.97, for a total transaction of $898,913.00. Following the completion of the sale, the director owned 41,913 shares of the company’s stock, valued at $12,991,772.61. This represents a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Taira sold 1,047 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $398.54, for a total transaction of $417,271.38. Following the completion of the sale, the insider owned 66,625 shares of the company’s stock, valued at $26,552,727.50. This trade represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 132,621 shares of company stock worth $59,163,610 over the last 90 days. Corporate insiders own 16.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVNA shares. Citigroup decreased their target price on shares of Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Wedbush lowered their price target on Carvana from $500.00 to $425.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Gordon Haskett cut their price objective on Carvana from $435.00 to $350.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Bank of America reduced their target price on Carvana from $460.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Finally, Evercore decreased their target price on Carvana from $430.00 to $390.00 in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $440.59.

Carvana Price Performance

NYSE:CVNA opened at $328.74 on Tuesday. The stock has a 50 day moving average of $397.33 and a two-hundred day moving average of $380.49. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $486.89. The firm has a market cap of $71.94 billion, a P/E ratio of 40.89 and a beta of 3.60. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, beating 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 earnings per share. The business’s quarterly revenue was up 58.0% compared to the same quarter last year. On average, analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.