Carvana Co. $CVNA Shares Acquired by Navellier & Associates Inc.

Navellier & Associates Inc. lifted its stake in Carvana Co. (NYSE:CVNA) by 119.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 32,153 shares of the company’s stock after acquiring an additional 17,531 shares during the quarter. Navellier & Associates Inc.’s holdings in Carvana were worth $2,116,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC increased its holdings in Carvana by 1.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after purchasing an additional 31 shares during the last quarter. Insigneo Advisory Services LLC raised its position in Carvana by 4.8% in the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock valued at $294,000 after purchasing an additional 32 shares during the period. Benjamin Edwards Inc. lifted its stake in Carvana by 6.2% during the fourth quarter. Benjamin Edwards Inc. now owns 586 shares of the company’s stock worth $247,000 after purchasing an additional 34 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in Carvana by 29.8% during the first quarter. SJS Investment Consulting Inc. now owns 183 shares of the company’s stock worth $58,000 after purchasing an additional 42 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Carvana by 5.7% during the third quarter. Moors & Cabot Inc. now owns 813 shares of the company’s stock worth $307,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Up 0.2%

Carvana stock opened at $74.24 on Friday. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The stock’s fifty day simple moving average is $68.10 and its 200-day simple moving average is $68.34. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $81.70 billion, a P/E ratio of 41.06, a P/E/G ratio of 2.69 and a beta of 3.46.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period last year, the firm earned $1.51 earnings per share. As a group, equities analysts expect that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $64.49, for a total transaction of $322,450.00. Following the completion of the transaction, the vice president directly owned 136,909 shares of the company’s stock, valued at approximately $8,829,261.41. The trade was a 3.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $64.50, for a total value of $4,111,875.00. Following the transaction, the chief financial officer directly owned 1,156,534 shares of the company’s stock, valued at approximately $74,596,443. This represents a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 420,897 shares of company stock worth $28,777,664 over the last quarter. 15.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BNP Paribas Exane dropped their price objective on Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. Weiss Ratings upgraded Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Jefferies Financial Group dropped their target price on Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Citigroup dropped their target price on Carvana from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Robert W. Baird set a $72.00 price target on shares of Carvana in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.