Federated Hermes Inc. Has $39.84 Million Position in Carvana Co. $CVNA

Federated Hermes Inc. lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 37.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,238 shares of the company’s stock after buying an additional 32,504 shares during the period. Federated Hermes Inc. owned about 0.05% of Carvana worth $39,841,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Los Angeles Capital Management LLC boosted its holdings in shares of Carvana by 1,950.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock valued at $37,467,000 after buying an additional 105,768 shares during the last quarter. Berkshire Capital Holdings Inc. raised its position in Carvana by 632,200.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock worth $13,220,000 after acquiring an additional 63,220 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Carvana by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 490,874 shares of the company’s stock valued at $102,632,000 after acquiring an additional 27,912 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Carvana in the 2nd quarter valued at about $183,102,000. Finally, Cresset Asset Management LLC increased its stake in shares of Carvana by 32.2% during the 1st quarter. Cresset Asset Management LLC now owns 3,347 shares of the company’s stock worth $700,000 after purchasing an additional 816 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other news, insider Ryan S. Keeton sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $400.00, for a total transaction of $4,000,000.00. Following the transaction, the insider directly owned 74,460 shares of the company’s stock, valued at $29,784,000. This represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Maroone sold 30,928 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total transaction of $12,381,715.52. Following the transaction, the director owned 143,573 shares in the company, valued at approximately $57,478,014.82. The trade was a 17.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 407,380 shares of company stock valued at $151,017,255. 16.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent analyst reports. Citigroup cut their target price on shares of Carvana from $490.00 to $445.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Bank of America increased their price target on shares of Carvana from $385.00 to $455.00 and gave the company a “buy” rating in a report on Monday. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Needham & Company LLC reiterated a “buy” rating and issued a $500.00 price target on shares of Carvana in a research report on Monday, November 17th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $460.00 price objective on shares of Carvana in a research report on Thursday, October 30th. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average price target of $425.43.

Carvana Trading Up 12.1%

CVNA opened at $448.19 on Tuesday. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The company has a fifty day moving average of $347.66 and a 200-day moving average of $347.11. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $456.97. The stock has a market cap of $97.50 billion, a PE ratio of 102.33, a price-to-earnings-growth ratio of 1.45 and a beta of 3.51.

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