Carvana Co. $CVNA Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Carvana Co. (NYSE:CVNA) by 11.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,232,179 shares of the company’s stock after acquiring an additional 221,161 shares during the period. Geode Capital Management LLC’s holdings in Carvana were worth $750,301,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Carvana by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock valued at $144,835,000 after purchasing an additional 9,694 shares during the last quarter. Northern Trust Corp increased its holdings in Carvana by 5.4% in the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock valued at $143,400,000 after purchasing an additional 35,168 shares during the last quarter. Finally, Contour Asset Management LLC raised its position in Carvana by 71.4% in the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock valued at $134,462,000 after purchasing an additional 267,994 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVNA. Bank of America dropped their price objective on Carvana from $405.00 to $385.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Zacks Research cut Carvana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Wells Fargo & Company lifted their target price on Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Wall Street Zen cut shares of Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Finally, Piper Sandler lifted their price objective on shares of Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $414.16.

Insider Buying and Selling

In other news, Director Gregory B. Sullivan sold 2,500 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $340.00, for a total value of $850,000.00. Following the transaction, the director owned 39,428 shares in the company, valued at approximately $13,405,520. This represents a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Stephen R. Palmer sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $305.00, for a total value of $305,000.00. Following the sale, the vice president owned 41,868 shares of the company’s stock, valued at approximately $12,769,740. The trade was a 2.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 426,452 shares of company stock valued at $154,720,683 over the last 90 days. 17.12% of the stock is currently owned by corporate insiders.

Carvana Stock Down 2.8%

Shares of Carvana stock opened at $319.04 on Friday. 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 Co. has a 52-week low of $148.25 and a 52-week high of $413.33. The company has a market capitalization of $69.40 billion, a P/E ratio of 72.84, a P/E/G ratio of 1.19 and a beta of 3.50. The company has a 50 day moving average of $352.99 and a 200 day moving average of $336.44.

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

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.