Prudential PLC Raises Stake in Carvana Co. $CVNA

Prudential PLC increased its stake in shares of Carvana Co. (NYSE:CVNA) by 153.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,664 shares of the company’s stock after buying an additional 2,826 shares during the period. Prudential PLC’s holdings in Carvana were worth $1,572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVNA. IFP Advisors Inc increased its stake in shares of Carvana by 16.0% during the 1st quarter. IFP Advisors Inc now owns 638 shares of the company’s stock worth $133,000 after purchasing an additional 88 shares during the last quarter. Choreo LLC purchased a new stake in Carvana in the first quarter worth $216,000. Avantax Advisory Services Inc. raised its stake in shares of Carvana by 51.4% in the first quarter. Avantax Advisory Services Inc. now owns 1,679 shares of the company’s stock valued at $351,000 after buying an additional 570 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Carvana by 9.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 34,800 shares of the company’s stock valued at $7,276,000 after buying an additional 3,000 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Carvana during the 1st quarter valued at $880,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE:CVNA opened at $310.73 on Friday. The business’s 50-day moving average price is $347.28 and its two-hundred day moving average price is $339.88. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The stock has a market cap of $67.60 billion, a P/E ratio of 70.94, a PEG ratio of 1.12 and a beta of 3.50. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. As a group, equities analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several recent research reports. Piper Sandler lifted their price objective on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating and set a $460.00 target price on shares of Carvana in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carvana in a research report on Friday. They issued a “buy” rating and a $395.00 price target on the stock. Barclays assumed coverage on shares of Carvana in a report on Tuesday, November 11th. They issued an “overweight” rating and a $390.00 price objective for the company. Finally, Morgan Stanley set a $450.00 target price on shares of Carvana in a report on Monday, October 20th. Sixteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $413.20.

Insiders Place Their Bets

In related news, insider Ryan S. Keeton sold 32,370 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $301.68, for a total value of $9,765,381.60. Following the transaction, the insider owned 115,456 shares of the company’s stock, valued at $34,830,766.08. This represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $375.00, for a total value of $5,625,000.00. Following the sale, the insider owned 83,018 shares in the company, valued at $31,131,750. The trade was a 15.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 386,452 shares of company stock worth $141,017,032. 17.12% of the stock is owned by corporate insiders.

Carvana Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.