Bank of New York Mellon Corp Acquires 16,692 Shares of Carvana Co. $CVNA

Bank of New York Mellon Corp grew its holdings in Carvana Co. (NYSE:CVNA) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 710,264 shares of the company’s stock after buying an additional 16,692 shares during the period. Bank of New York Mellon Corp’s holdings in Carvana were worth $223,293,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after purchasing an additional 3,328,115 shares during the period. State Street Corp raised its position in shares of Carvana by 93.7% in the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after purchasing an additional 2,764,759 shares during the period. Capital Research Global Investors lifted its stake in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after buying an additional 1,711,144 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Carvana by 8.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after buying an additional 1,407,762 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after buying an additional 1,382,852 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Down 4.5%

Shares of CVNA stock opened at $67.50 on Friday. The stock has a market cap of $74.04 billion, a P/E ratio of 41.06, a price-to-earnings-growth ratio of 11.34 and a beta of 3.46. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The stock has a 50 day simple moving average of $67.86 and a 200 day simple moving average of $72.29.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. On average, research analysts predict that Carvana Co. will post 1.58 earnings per share for the current fiscal year.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total value of $4,356,675.00. Following the sale, the chief financial officer directly owned 1,029,580 shares of the company’s stock, valued at $70,361,497.20. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $68.53, for a total transaction of $342,650.00. Following the sale, the vice president directly owned 144,934 shares in the company, valued at $9,932,327.02. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 396,962 shares of company stock worth $28,525,088 in the last 90 days. Corporate insiders own 15.19% of the company’s stock.

Key Stories Impacting Carvana

Here are the key news stories impacting Carvana this week:

• Negative Sentiment: Zacks Research downgraded Carvana (CVNA) from strong-buy to hold, a step that can dampen investor confidence. Article Title
• Negative Sentiment: Analysts lowered earnings estimates for several upcoming periods, including FY2027 and FY2028, suggesting expectations for slower profit growth than previously projected. Article Title
• Neutral Sentiment: Despite the cuts, Zacks still expects Carvana to remain profitable, with consensus full-year earnings estimated at $1.58 per share and longer-term EPS forecasts still pointing higher. Article Title

Analyst Ratings Changes

A number of brokerages recently commented on CVNA. Stephens upped their price target on shares of Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Wells Fargo & Company boosted their price objective on Carvana from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carvana in a research report on Thursday, June 18th. Argus dropped their price target on Carvana from $500.00 to $100.00 in a report on Monday, May 11th. Finally, Barclays set a $93.00 price target on Carvana and gave the company an “overweight” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.92.

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.