Hsbc Holdings PLC Buys 14,042 Shares of Carvana Co. $CVNA

Hsbc Holdings PLC lifted its stake in Carvana Co. (NYSE:CVNA) by 6.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 235,769 shares of the company’s stock after buying an additional 14,042 shares during the quarter. Hsbc Holdings PLC owned approximately 0.11% of Carvana worth $73,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. First Horizon Corp increased its holdings in Carvana by 6.4% in the 4th quarter. First Horizon Corp now owns 418 shares of the company’s stock valued at $176,000 after acquiring an additional 25 shares during the last quarter. Finivi Inc. grew its position in shares of Carvana by 4.6% during the fourth quarter. Finivi Inc. now owns 698 shares of the company’s stock valued at $295,000 after purchasing an additional 31 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Carvana by 1.0% during the fourth quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock valued at $1,346,000 after purchasing an additional 31 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Carvana by 1.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after purchasing an additional 31 shares during the last quarter. Finally, Insigneo Advisory Services LLC increased its holdings in shares of Carvana by 4.8% in the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock worth $294,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other Carvana news, Director J Danforth Quayle sold 14,525 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total value of $1,016,750.00. Following the completion of the sale, the director owned 214,960 shares of the company’s stock, valued at $15,047,200. This trade represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $68.55, for a total value of $3,427,500.00. Following the transaction, the chief operating officer owned 458,755 shares of the company’s stock, valued at $31,447,655.25. This trade represents a 9.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 396,962 shares of company stock worth $28,525,088 over the last three months. 15.19% of the stock is currently owned by company insiders.

Carvana Trading Up 0.2%

CVNA stock opened at $67.50 on Monday. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The stock has a market capitalization of $74.04 billion, a price-to-earnings ratio of 41.06, a price-to-earnings-growth ratio of 11.34 and a beta of 3.46. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. The firm’s fifty day simple moving average is $67.86 and its two-hundred day simple moving average is $72.29.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.12 billion. As a group, analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CVNA shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $107.40 price target on shares of Carvana in a research note on Thursday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Carvana in a research note on Friday, June 5th. JPMorgan Chase & Co. upped their price objective on Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Gordon Haskett increased their target price on Carvana from $67.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Finally, Evercore raised their target price on shares of Carvana from $78.00 to $80.00 in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.92.

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.