Carvana Co. $CVNA Shares Purchased by Corient Private Wealth LP

Corient Private Wealth LP boosted its position in Carvana Co. (NYSE:CVNA) by 704.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 49,336 shares of the company’s stock after buying an additional 43,200 shares during the period. Corient Private Wealth LP’s holdings in Carvana were worth $3,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. State Street Corp raised its position in Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after buying an additional 2,764,759 shares during the last quarter. Capital Research Global Investors lifted its position in Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the period. Bank of America Corp DE boosted its holdings in Carvana by 372.0% in the 2nd quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock valued at $117,939,000 after purchasing an additional 1,412,188 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after purchasing an additional 1,407,762 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after purchasing an additional 1,382,852 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Price Performance

CVNA stock opened at $71.94 on Wednesday. The firm has a 50 day moving average of $68.38 and a 200-day moving average of $68.23. The company has a market cap of $79.17 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 2.12 and a beta of 3.49. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group cut their target price on Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings raised Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Citizens Jmp cut their price objective on Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a research report on Thursday, July 30th. BTIG Research reissued a “buy” rating and issued a $87.00 target price on shares of Carvana in a report on Tuesday, August 18th. Finally, Hovde Group boosted their target price on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.14.

Insider Activity at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $64.50, for a total value of $3,225,000.00. Following the sale, the chief operating officer owned 535,709 shares of the company’s stock, valued at approximately $34,553,230.50. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Danforth Quayle sold 14,525 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $75.00, for a total value of $1,089,375.00. Following the completion of the transaction, the director owned 214,960 shares of the company’s stock, valued at approximately $16,122,000. This represents a 6.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 302,147 shares of company stock valued at $20,418,064 in the last 90 days. 15.19% of the stock is owned by corporate insiders.

Carvana Profile

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.