The Manufacturers Life Insurance Company Has $124.93 Million Holdings in Carvana Co. $CVNA

The Manufacturers Life Insurance Company boosted its holdings in shares of Carvana Co. (NYSE:CVNA) by 384.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,898,095 shares of the company’s stock after acquiring an additional 1,506,145 shares during the period. The Manufacturers Life Insurance Company’s holdings in Carvana were worth $124,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in shares of Carvana by 31,281.7% in the second quarter. California State Teachers Retirement System now owns 63,866,397 shares of the company’s stock worth $4,203,686,000 after acquiring an additional 63,662,882 shares in the last quarter. State Street Corp lifted 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Carvana by 345.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock valued at $218,867,000 after purchasing an additional 2,579,295 shares during the period. Amundi grew its position in shares of Carvana by 379.7% in the 2nd quarter. Amundi now owns 2,421,045 shares of the company’s stock valued at $159,353,000 after purchasing an additional 1,916,349 shares during the period. Finally, Capital Research Global Investors grew its position in shares of Carvana by 42.9% in 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 during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In related news, CFO Mark Jenkins sold 63,750 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the completion of the transaction, the chief financial officer owned 1,029,580 shares in the company, valued at approximately $70,361,497.20. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Platt sold 15,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the transaction, the director directly owned 186,470 shares of the company’s stock, valued at approximately $12,648,260.10. This trade represents a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 400,775 shares of company stock valued at $27,522,038 in the last three months. 15.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley set a $90.00 target price on Carvana and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Barclays reduced their price target on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Jefferies Financial Group lowered their price objective on shares of Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Wells Fargo & Company set a $80.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Carvana in a research report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $84.14.

Carvana Trading Down 1.5%

NYSE CVNA opened at $69.22 on Friday. The stock has a market capitalization of $76.17 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.02 and a beta of 3.49. The stock’s 50 day moving average price is $69.44 and its two-hundred day moving average price is $68.43. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38.

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

Carvana Profile

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.