7,843 Shares in Carvana Co. $CVNA Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG bought a new position in shares of Carvana Co. (NYSE:CVNA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,843 shares of the company’s stock, valued at approximately $500,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. acquired a new stake in shares of Carvana during the 4th quarter worth about $29,000. Motiv8 Investments LLC acquired a new position in Carvana in the fourth quarter valued at about $33,000. Ascentis Independent Advisors acquired a new position in Carvana in the first quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Carvana during the second quarter worth about $38,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

NYSE CVNA opened at $74.65 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The company has a market cap of $82.15 billion, a P/E ratio of 41.29, a P/E/G ratio of 2.15 and a beta of 3.49. The stock has a 50-day moving average of $68.89 and a two-hundred day moving average of $68.31. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. 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 company earned $1.51 earnings per share. The business’s quarterly revenue was up 52.4% on a year-over-year basis. As a group, analysts anticipate that Carvana Co. will post 1.68 EPS for the current year.

Insider Activity

In other news, Director Ira J. Platt sold 15,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,132,500.00. Following the sale, the director owned 186,470 shares of the company’s stock, valued at approximately $14,078,485. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 63,750 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $4,561,312.50. Following the sale, the chief financial officer directly owned 1,149,518 shares in the company, valued at $82,248,012.90. This represents a 5.25% 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 415,300 shares of company stock worth $28,538,788 over the last 90 days. Company insiders own 15.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CVNA shares. Morgan Stanley set a $90.00 price target on shares of Carvana and gave the company an “overweight” rating in a research note on Thursday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Carvana in a research report on Thursday, July 30th. Argus dropped their target price on shares of Carvana from $500.00 to $100.00 in a report on Monday, May 11th. Weiss Ratings upgraded shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $80.00 target price on shares of Carvana in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.