Wilmington Savings Fund Society FSB Cuts Stock Holdings in Carvana Co. $CVNA

Wilmington Savings Fund Society FSB decreased its holdings in shares of Carvana Co. (NYSE:CVNA) by 16.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,814 shares of the company’s stock after selling 543 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Carvana were worth $948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. J.Safra Asset Management Corp grew its holdings in shares of Carvana by 140.8% during the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company’s stock worth $709,000 after purchasing an additional 1,982 shares in the last quarter. Berkshire Capital Holdings Inc. grew its holdings in shares of Carvana by 632,200.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock worth $13,220,000 after purchasing an additional 63,220 shares in the last quarter. Praxis Investment Management Inc. grew its holdings in shares of Carvana by 56.0% during the first quarter. Praxis Investment Management Inc. now owns 4,400 shares of the company’s stock worth $920,000 after purchasing an additional 1,580 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Carvana by 1,791.2% during the first quarter. Hexagon Capital Partners LLC now owns 2,591 shares of the company’s stock worth $542,000 after purchasing an additional 2,454 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Carvana during the first quarter worth about $359,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of CVNA stock opened at $344.35 on Friday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The stock has a 50 day moving average price of $364.40 and a two-hundred day moving average price of $318.44. The company has a market capitalization of $74.10 billion, a P/E ratio of 86.30, a PEG ratio of 1.16 and a beta of 3.55.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The business’s revenue was up 41.9% on a year-over-year basis. Analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

CVNA has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Carvana in a report on Tuesday. Evercore ISI upped their target price on Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 12th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Gordon Haskett started coverage on Carvana in a research note on Monday, July 14th. They issued a “hold” rating and a $329.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on Carvana from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $407.44.

Insider Transactions at Carvana

In related news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $398.00, for a total transaction of $5,970,000.00. Following the completion of the transaction, the insider owned 81,716 shares in the company, valued at $32,522,968. This represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total value of $3,892,700.00. Following the transaction, the chief operating officer owned 103,197 shares of the company’s stock, valued at approximately $40,171,496.19. This represents a 8.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,678,292 shares of company stock valued at $608,812,907. Insiders own 17.12% of the company’s stock.

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.