Massachusetts Financial Services Co. MA Acquires 64,424 Shares of Carvana Co. $CVNA

Massachusetts Financial Services Co. MA lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 637,462 shares of the company’s stock after buying an additional 64,424 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Carvana were worth $240,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CVNA. Royal Bank of Canada grew its holdings in Carvana by 40.8% during the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after acquiring an additional 8,654 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after purchasing an additional 181 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Carvana by 82.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,533 shares of the company’s stock worth $1,579,000 after purchasing an additional 2,051 shares during the period. UMB Bank n.a. increased its holdings in Carvana by 519.2% in the second quarter. UMB Bank n.a. now owns 322 shares of the company’s stock valued at $109,000 after purchasing an additional 270 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Carvana by 38.2% in the second quarter. Farther Finance Advisors LLC now owns 4,811 shares of the company’s stock valued at $1,621,000 after purchasing an additional 1,329 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Carvana Price Performance

Shares of NYSE CVNA opened at $443.34 on Tuesday. The company has a fifty day moving average price of $408.95 and a 200 day moving average price of $373.08. The firm has a market cap of $96.44 billion, a PE ratio of 101.22, a PEG ratio of 1.06 and a beta of 3.54. 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 Co. has a 1-year low of $148.25 and a 1-year high of $485.33.

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

Insider Activity at Carvana

In other news, insider Thomas Taira sold 30,952 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $435.96, for a total value of $13,493,833.92. Following the sale, the insider owned 69,880 shares of the company’s stock, valued at $30,464,884.80. The trade was a 30.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel J. Gill sold 80,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $439.50, for a total transaction of $35,160,000.00. Following the completion of the transaction, the insider directly owned 191,106 shares of the company’s stock, valued at approximately $83,991,087. This trade represents a 29.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 467,626 shares of company stock worth $192,090,109. 16.36% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVNA has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $500.00 target price on shares of Carvana in a report on Monday, November 17th. Evercore ISI increased their price target on shares of Carvana from $420.00 to $425.00 and gave the company an “in-line” rating in a research report on Tuesday, December 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Carvana in a report on Tuesday, January 13th. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Finally, Jefferies Financial Group lifted their price target on shares of Carvana from $475.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Nineteen 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $465.64.

About Carvana

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.