Franklin Resources Inc. Has $83.34 Million Position in Carvana Co. $CVNA

Franklin Resources Inc. lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 807.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 247,318 shares of the company’s stock after purchasing an additional 220,059 shares during the period. Franklin Resources Inc. owned 0.11% of Carvana worth $83,336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Carvana by 1.8% in the second quarter. Vanguard Group Inc. now owns 12,764,230 shares of the company’s stock valued at $4,301,035,000 after purchasing an additional 229,387 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Carvana by 11.0% in the second quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock valued at $750,301,000 after purchasing an additional 221,161 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Carvana by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock worth $144,835,000 after purchasing an additional 9,694 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Carvana by 5.4% during the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock worth $143,400,000 after buying an additional 35,168 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Price Performance

CVNA stock opened at $331.17 on Tuesday. The stock has a 50-day moving average price of $346.61 and a two-hundred day moving average price of $340.77. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The stock has a market cap of $72.04 billion, a PE ratio of 75.61, a price-to-earnings-growth ratio of 1.12 and a beta of 3.50. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carvana in a research note on Friday. They issued a “buy” rating and a $395.00 target price on the stock. Barclays started coverage on shares of Carvana in a report on Tuesday, November 11th. They issued an “overweight” rating and a $390.00 price objective on the stock. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. JMP Securities upped their target price on shares of Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Thursday, July 31st. Finally, DA Davidson set a $360.00 price target on Carvana in a research note on Thursday, October 30th. Seventeen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $420.70.

Insider Transactions at Carvana

In related news, insider Ryan S. Keeton sold 10,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $325.03, for a total value of $3,250,300.00. Following the completion of the sale, the insider directly owned 104,958 shares in the company, valued at $34,114,498.74. The trade was a 8.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas Taira sold 952 shares of Carvana stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $325.00, for a total transaction of $309,400.00. Following the completion of the sale, the insider owned 116,507 shares of the company’s stock, valued at $37,864,775. This trade represents a 0.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 376,452 shares of company stock valued at $137,402,532. Company insiders own 16.36% of the company’s stock.

Carvana Company Profile

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.