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

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

A number of other hedge funds and other institutional investors have also modified their holdings of CVNA. Vanguard Group Inc. raised its holdings in shares of Carvana by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock valued at $7,082,804,000 after purchasing an additional 3,328,115 shares in the last quarter. State Street Corp raised its holdings in shares of Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after purchasing an additional 2,764,759 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares in the last quarter. Finally, Viking Global Investors LP raised its holdings in shares of Carvana by 94.9% during the 3rd quarter. Viking Global Investors LP now owns 2,101,241 shares of the company’s stock valued at $792,672,000 after purchasing an additional 1,023,265 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Trading Up 1.5%

Carvana stock opened at $69.96 on Wednesday. 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 simple moving average is $71.47 and its 200-day simple moving average is $75.25. The firm has a market capitalization of $76.73 billion, a PE ratio of 42.55, a PEG ratio of 11.63 and a beta of 3.45. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38.

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

Insider Transactions at Carvana

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.42, for a total value of $352,100.00. Following the completion of the sale, the vice president directly owned 152,955 shares of the company’s stock, valued at $10,771,091.10. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Danforth Quayle sold 14,525 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $15,047,200. This trade represents a 6.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 415,812 shares of company stock worth $29,056,896. 15.19% of the stock is currently owned by insiders.

Carvana News Summary

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CVNA shares. UBS Group restated a “buy” rating and set a $104.00 price target (up from $97.00) on shares of Carvana in a report on Thursday, April 30th. Evercore upped their target price on Carvana from $78.00 to $80.00 in a research report on Tuesday, April 28th. Jefferies Financial Group decreased their target price on Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Gordon Haskett upped their target price on Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Finally, BTIG Research restated a “buy” rating and set a $97.00 price target on shares of Carvana in a report on Friday, June 5th. Two 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, Carvana has a consensus rating of “Moderate Buy” and an average target price of $93.14.

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.