Barclays PLC boosted its stake in shares of Carvana Co (NYSE:CVNA) by 61.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 452,236 shares of the company’s stock after buying an additional 171,637 shares during the quarter. Barclays PLC owned approximately 0.31% of Carvana worth $14,792,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in CVNA. First Mercantile Trust Co. lifted its holdings in Carvana by 34.1% during the 4th quarter. First Mercantile Trust Co. now owns 3,061 shares of the company’s stock worth $100,000 after buying an additional 779 shares during the period. CX Institutional acquired a new position in shares of Carvana in the 4th quarter valued at about $106,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Carvana in the 4th quarter valued at about $131,000. Fifth Third Bancorp acquired a new position in shares of Carvana in the 3rd quarter valued at about $157,000. Finally, Credit Suisse AG acquired a new position in shares of Carvana in the 3rd quarter valued at about $201,000. 34.94% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Ernest C. Garcia II sold 253,808 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $56.03, for a total transaction of $14,220,862.24. Following the transaction, the insider now directly owns 52,937,458 shares of the company’s stock, valued at approximately $2,966,085,771.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Spruce House Partnership Lp purchased 205,000 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The shares were purchased at an average cost of $32.85 per share, for a total transaction of $6,734,250.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 935,000 shares of company stock worth $31,024,450 and have sold 1,295,938 shares worth $64,913,493. 21.41% of the stock is currently owned by corporate insiders.
Shares of NYSE:CVNA opened at $56.68 on Friday. Carvana Co has a 1 year low of $19.20 and a 1 year high of $72.59. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.76 and a current ratio of 2.01. The stock has a market capitalization of $8.12 billion, a PE ratio of -32.76 and a beta of 2.34.
Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 27th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). Carvana had a negative return on equity of 21.06% and a negative net margin of 3.16%. The firm had revenue of $584.80 million for the quarter, compared to analyst estimates of $601.14 million. During the same period last year, the company posted ($0.36) earnings per share. The firm’s quarterly revenue was up 120.6% compared to the same quarter last year. On average, equities research analysts forecast that Carvana Co will post -1.6 EPS for the current fiscal year.
A number of research analysts have recently issued reports on CVNA shares. Morgan Stanley started coverage on Carvana in a research note on Monday, January 14th. They issued an “underweight” rating and a $23.00 price objective on the stock. Craig Hallum dropped their price objective on Carvana from $48.00 to $40.00 and set a “hold” rating on the stock in a research note on Tuesday, December 4th. Citigroup started coverage on Carvana in a research note on Friday, December 7th. They issued a “buy” rating and a $55.00 price objective on the stock. Seaport Global Securities started coverage on Carvana in a research note on Wednesday, February 13th. They issued a “neutral” rating on the stock. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Carvana from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Carvana currently has an average rating of “Hold” and an average target price of $54.09.
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Carvana Company Profile
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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