Donoghue Forlines LLC Makes New $2.68 Million Investment in Carvana Co. $CVNA

Donoghue Forlines LLC bought a new position in Carvana Co. (NYSE:CVNA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,942 shares of the company’s stock, valued at approximately $2,676,000.

Other large investors have also recently modified their holdings of the company. Hilltop National Bank purchased a new stake in Carvana during the 2nd quarter valued at about $25,000. SJS Investment Consulting Inc. raised its holdings in Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the last quarter. LRI Investments LLC bought a new position in shares of Carvana in the second quarter worth approximately $42,000. Brooklyn Investment Group grew its holdings in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after buying an additional 125 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Carvana during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Down 2.8%

CVNA opened at $319.04 on Friday. The company has a market capitalization of $69.40 billion, a PE ratio of 72.84, a price-to-earnings-growth ratio of 1.19 and a beta of 3.50. The firm has a 50-day simple moving average of $352.99 and a two-hundred day simple moving average of $336.44. 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.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue was up 54.5% on a year-over-year basis. Analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVNA shares. Piper Sandler upped their price objective on Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Barclays began coverage on Carvana in a report on Tuesday. They set an “overweight” rating and a $390.00 price target on the stock. Citigroup dropped their price objective on shares of Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. JMP Securities lifted their target price on Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Thursday, July 31st. Finally, Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $414.16.

Insiders Place Their Bets

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $305.00, for a total transaction of $305,000.00. Following the completion of the transaction, the vice president directly owned 41,868 shares of the company’s stock, valued at $12,769,740. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $850,000.00. Following the completion of the sale, the director directly owned 39,428 shares in the company, valued at $13,405,520. This trade represents a 5.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 426,452 shares of company stock worth $154,720,683. 17.12% of the stock is currently owned by company insiders.

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.