Carvana Co. $CVNA Shares Sold by Blue Trust Inc.

Blue Trust Inc. lessened its stake in Carvana Co. (NYSE:CVNA) by 21.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 226 shares of the company’s stock after selling 62 shares during the quarter. Blue Trust Inc.’s holdings in Carvana were worth $76,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank acquired a new stake in shares of Carvana in the second quarter valued at approximately $25,000. Brooklyn Investment Group increased its holdings in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Carvana in the first quarter valued at approximately $33,000. SJS Investment Consulting Inc. lifted its holdings in Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after acquiring an additional 181 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Down 3.3%

Carvana stock opened at $333.28 on Friday. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The stock’s fifty day simple moving average is $364.10 and its 200-day simple moving average is $319.28. The firm has a market capitalization of $71.72 billion, a P/E ratio of 83.53, a P/E/G ratio of 1.12 and a beta of 3.55. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company’s revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel J. Gill sold 80,000 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the completion of the transaction, the insider owned 197,832 shares in the company, valued at approximately $78,917,163.12. The trade was a 28.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the transaction, the insider owned 6,624 shares of the company’s stock, valued at approximately $2,610,915.84. The trade was a 93.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,678,292 shares of company stock worth $608,812,907. Corporate insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CVNA shares. Oppenheimer raised Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price on the stock in a research report on Friday, July 25th. BTIG Research reissued a “buy” rating and issued a $450.00 target price on shares of Carvana in a research report on Friday. Piper Sandler boosted their target price on Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Citigroup reissued a “buy” rating on shares of Carvana in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on Carvana from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $407.44.

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.