Commerce Bank Boosts Holdings in Carvana Co. (NYSE:CVNA)

Commerce Bank raised its holdings in Carvana Co. (NYSE:CVNA) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 4,377 shares of the company’s stock after purchasing an additional 140 shares during the quarter. Commerce Bank’s holdings in Carvana were worth $890,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVNA. Stifel Financial Corp grew its holdings in Carvana by 65.3% during the 3rd quarter. Stifel Financial Corp now owns 5,434 shares of the company’s stock valued at $946,000 after buying an additional 2,147 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Carvana during the 3rd quarter worth about $312,000. World Investment Advisors LLC purchased a new stake in shares of Carvana during the third quarter worth about $2,009,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Carvana in the third quarter valued at approximately $241,000. Finally, Optimist Retirement Group LLC purchased a new position in shares of Carvana during the third quarter valued at approximately $289,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Taira sold 27,593 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the transaction, the insider now directly owns 179,673 shares in the company, valued at $40,431,815.19. The trade was a 13.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 330,810 shares of company stock worth $69,243,820 in the last 90 days. 17.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CVNA has been the subject of several analyst reports. DA Davidson boosted their price target on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Bank of America reduced their target price on Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Evercore ISI lowered their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Citigroup dropped their price objective on shares of Carvana from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, JMP Securities lowered their target price on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus price target of $253.88.

Carvana Trading Up 8.1 %

NYSE CVNA opened at $211.65 on Wednesday. The company’s fifty day simple moving average is $208.10 and its 200-day simple moving average is $221.85. The stock has a market cap of $45.12 billion, a P/E ratio of 134.81 and a beta of 3.61. Carvana Co. has a 52 week low of $71.39 and a 52 week high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Equities research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Carvana Company 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.