Carvana Co. $CVNA Position Boosted by Ethic Inc.

Ethic Inc. grew its holdings in Carvana Co. (NYSE:CVNA) by 14.2% during the third quarter, Holdings Channel.com reports. The firm owned 10,305 shares of the company’s stock after buying an additional 1,281 shares during the period. Ethic Inc.’s holdings in Carvana were worth $3,887,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CVNA. Hilltop National Bank acquired a new position in Carvana in the 2nd quarter valued at approximately $25,000. SJS Investment Consulting Inc. grew its holdings in shares of Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana in the second quarter worth $38,000. LRI Investments LLC acquired a new position in shares of Carvana in the second quarter worth $42,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Carvana during the second quarter worth $49,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on CVNA shares. Wedbush boosted their target price on Carvana from $400.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, December 19th. Zacks Research cut Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. BTIG Research restated a “buy” rating and issued a $450.00 price objective on shares of Carvana in a report on Friday, December 19th. Jefferies Financial Group lifted their target price on shares of Carvana from $475.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, Morgan Stanley set a $450.00 price target on shares of Carvana in a research note on Monday, October 20th. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $446.32.

Carvana Trading Down 1.0%

Shares of CVNA stock opened at $429.21 on Wednesday. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $485.33. The company has a market cap of $93.37 billion, a PE ratio of 97.99, a price-to-earnings-growth ratio of 1.41 and a beta of 3.51. 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 business’s 50 day moving average is $376.20 and its two-hundred day moving average is $360.84.

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

Insider Activity at Carvana

In related news, Director Michael E. Maroone sold 30,928 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 143,573 shares in the company, valued at $57,478,014.82. This represents a 17.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 20,000 shares of Carvana stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $475.00, for a total value of $9,500,000.00. Following the completion of the transaction, the chief operating officer directly owned 100,758 shares in the company, valued at approximately $47,860,050. This represents a 16.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 475,582 shares of company stock valued at $194,477,103. 16.36% of the stock is owned by corporate insiders.

Carvana Company 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.