Northern Trust Corp Acquires 35,168 Shares of Carvana Co. $CVNA

Northern Trust Corp boosted its position in shares of Carvana Co. (NYSE:CVNA) by 5.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 685,864 shares of the company’s stock after buying an additional 35,168 shares during the quarter. Northern Trust Corp owned approximately 0.32% of Carvana worth $143,400,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares during the period. Durable Capital Partners LP increased its holdings in Carvana by 6.3% during the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after purchasing an additional 129,246 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in Carvana by 29.8% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock worth $247,017,000 after purchasing an additional 278,760 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Carvana by 89.8% during the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock worth $207,086,000 after purchasing an additional 481,912 shares in the last quarter. Finally, Palestra Capital Management LLC grew its holdings in shares of Carvana by 15.5% in the 4th quarter. Palestra Capital Management LLC now owns 807,016 shares of the company’s stock valued at $164,115,000 after acquiring an additional 108,203 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of Carvana stock opened at $357.1740 on Friday. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana Co. has a twelve month low of $124.39 and a twelve month high of $413.33. The stock has a market cap of $76.86 billion, a price-to-earnings ratio of 89.52, a P/E/G ratio of 1.12 and a beta of 3.57. The company’s fifty day moving average is $340.09 and its 200 day moving average is $278.86.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. Carvana’s revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVNA. JMP Securities raised their target price on shares of Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target for the company in a research report on Friday, July 25th. Robert W. Baird lifted their price objective on shares of Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $350.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, Stephens lifted their price objective on shares of Carvana from $300.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $383.47.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 95,087 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $349.09, for a total value of $33,193,920.83. Following the completion of the sale, the insider directly owned 34,442,317 shares of the company’s stock, valued at approximately $12,023,468,441.53. This represents a 0.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $338.27, for a total transaction of $3,382,700.00. Following the transaction, the chief executive officer directly owned 516,440 shares of the company’s stock, valued at $174,696,158.80. This represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,056,140 shares of company stock worth $1,063,857,548 in the last 90 days. 17.12% of the stock is currently owned by company insiders.

About Carvana

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.