6,316 Shares in Carvana Co. $CVNA Purchased by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,316 shares of the company’s stock, valued at approximately $2,128,000.

Several other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after acquiring an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. boosted its stake in Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Carvana by 1.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock worth $144,835,000 after acquiring an additional 9,694 shares in the last quarter. Northern Trust Corp boosted its stake in Carvana by 5.4% during the first quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock worth $143,400,000 after acquiring an additional 35,168 shares in the last quarter. Finally, Contour Asset Management LLC boosted its stake in Carvana by 71.4% during the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock worth $134,462,000 after acquiring an additional 267,994 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Activity

In other news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $367.34, for a total transaction of $5,510,100.00. Following the completion of the transaction, the insider directly owned 113,792 shares of the company’s stock, valued at $41,800,353.28. The trade was a 11.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira J. Platt sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the transaction, the director directly owned 7,231 shares of the company’s stock, valued at $2,741,561.34. The trade was a 65.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 939,855 shares of company stock valued at $338,492,060 over the last three months. Insiders own 17.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVNA shares. JMP Securities upped their target price on shares of Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. Piper Sandler upped their target price 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. Jefferies Financial Group reiterated a “buy” rating on shares of Carvana in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $500.00 target price on shares of Carvana in a research note on Thursday. Finally, Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $418.00.

Carvana Stock Up 0.7%

CVNA opened at $307.15 on Friday. The company has a quick ratio of 2.58, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average price of $362.58 and a 200-day moving average price of $331.01. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The stock has a market capitalization of $66.10 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 0.98 and a beta of 3.55.

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

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.