American Century Companies Inc. Boosts Position in Carvana Co. $CVNA

American Century Companies Inc. grew its stake in shares of Carvana Co. (NYSE:CVNA) by 10.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,507 shares of the company’s stock after purchasing an additional 34,222 shares during the period. American Century Companies Inc.’s holdings in Carvana were worth $139,770,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Handelsbanken Fonder AB boosted its holdings in Carvana by 2.5% in the third quarter. Handelsbanken Fonder AB now owns 89,216 shares of the company’s stock worth $33,656,000 after acquiring an additional 2,140 shares in the last quarter. Xponance Inc. lifted its holdings in Carvana by 6.0% in the third quarter. Xponance Inc. now owns 26,417 shares of the company’s stock valued at $9,966,000 after acquiring an additional 1,502 shares during the period. DNB Asset Management AS increased its holdings in Carvana by 3.2% during the third quarter. DNB Asset Management AS now owns 23,157 shares of the company’s stock valued at $8,736,000 after buying an additional 723 shares during the last quarter. Choreo LLC lifted its position in Carvana by 81.8% during the third quarter. Choreo LLC now owns 2,214 shares of the company’s stock valued at $835,000 after purchasing an additional 996 shares in the last quarter. Finally, Westpac Banking Corp raised its stake in Carvana by 1.2% during the 3rd quarter. Westpac Banking Corp now owns 4,941 shares of the company’s stock worth $1,864,000 after acquiring an additional 59 shares during the period. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVNA. Morgan Stanley restated an “overweight” rating on shares of Carvana in a research note on Thursday, January 8th. Wedbush reduced their price objective on shares of Carvana from $500.00 to $425.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Carvana from $600.00 to $519.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Jefferies Financial Group reduced their price target on shares of Carvana from $550.00 to $485.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $500.00 price objective on shares of Carvana in a research note on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus price target of $440.59.

Insider Buying and Selling

In other Carvana news, insider Thomas Taira sold 1,047 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $398.54, for a total transaction of $417,271.38. Following the sale, the insider directly owned 66,625 shares of the company’s stock, valued at approximately $26,552,727.50. This trade represents a 1.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Gill sold 40,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $475.24, for a total value of $19,009,600.00. Following the completion of the transaction, the insider directly owned 191,106 shares of the company’s stock, valued at approximately $90,821,215.44. This trade represents a 17.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 366,601 shares of company stock valued at $159,650,246 in the last 90 days. 16.36% of the stock is currently owned by insiders.

Carvana Price Performance

Shares of CVNA opened at $334.31 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73. The company’s fifty day moving average price is $411.14 and its 200-day moving average price is $381.47. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $486.89. The firm has a market capitalization of $73.16 billion, a PE ratio of 41.58 and a beta of 3.60.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The firm’s revenue was up 58.0% compared to the same quarter last year. On average, equities research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

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.