648 Shares in Carvana Co. $CVNA Purchased by MGO One Seven LLC

MGO One Seven LLC bought a new position in shares of Carvana Co. (NYSE:CVNA) during the second quarter, HoldingsChannel reports. The firm bought 648 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Warren Street Wealth Advisors LLC grew its position in Carvana by 2.8% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock worth $388,000 after buying an additional 31 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Carvana by 5.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after purchasing an additional 60 shares during the period. Commerce Bank lifted its stake in Carvana by 1.6% during the first quarter. Commerce Bank now owns 4,446 shares of the company’s stock worth $930,000 after purchasing an additional 69 shares during the period. PNC Financial Services Group Inc. lifted its stake in Carvana by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock worth $466,000 after purchasing an additional 72 shares during the period. Finally, Hilltop National Bank bought a new position in Carvana during the second quarter worth about $25,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Performance

CVNA stock opened at $338.00 on Tuesday. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The company has a 50 day moving average price of $363.95 and a 200 day moving average price of $322.12. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The stock has a market capitalization of $72.74 billion, a PE ratio of 84.71, a price-to-earnings-growth ratio of 1.08 and a beta of 3.55.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the company posted ($0.05) EPS. Carvana’s revenue was up 41.9% on a year-over-year basis. Analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 93,376 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $394.16, for a total value of $36,805,084.16. Following the completion of the transaction, the insider owned 6,624 shares in the company, valued at $2,610,915.84. The trade was a 93.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel J. Gill sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the completion of the transaction, the insider owned 197,832 shares of the company’s stock, valued at $78,917,163.12. This trade represents a 28.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,618,292 shares of company stock worth $588,235,207 in the last quarter. Insiders own 16.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVNA. Citigroup restated a “buy” rating on shares of Carvana in a research note on Thursday, October 9th. Needham & Company LLC raised their price target on shares of Carvana from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Carvana in a research note on Tuesday, October 14th. Jefferies Financial Group set a $475.00 price target on shares of Carvana and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Piper Sandler raised their price target on shares of Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $416.33.

About Carvana

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.