Fifth Third Bancorp Buys 13,766 Shares of Carvana Co. $CVNA

Fifth Third Bancorp boosted its stake in Carvana Co. (NYSE:CVNA) by 3,547.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,154 shares of the company’s stock after buying an additional 13,766 shares during the quarter. Fifth Third Bancorp’s holdings in Carvana were worth $4,450,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CVNA. Vanguard Group Inc. raised its stake 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 acquiring an additional 3,328,115 shares in the last quarter. State Street Corp boosted its stake in shares of Carvana by 93.7% in the 4th 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 in the last quarter. Capital Research Global Investors boosted its stake in shares of Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Carvana by 8.6% in 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 purchasing an additional 1,407,762 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Carvana by 55.4% in the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after purchasing an additional 1,382,852 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Bank of America upped their price objective on shares of Carvana from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Stephens raised their price objective on shares of Carvana from $86.00 to $97.00 in a report on Thursday, April 30th. Jefferies Financial Group cut their target price on shares of Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $120.00 target price on shares of Carvana in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.92.

Insider Activity

In other news, Director J Danforth Quayle sold 14,525 shares of Carvana stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total value of $1,016,750.00. Following the completion of the sale, the director directly owned 214,960 shares of the company’s stock, valued at approximately $15,047,200. This trade represents a 6.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $67.83, for a total value of $1,017,450.00. Following the sale, the director owned 186,470 shares of the company’s stock, valued at approximately $12,648,260.10. The trade was a 7.45% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 396,962 shares of company stock worth $28,525,088. 15.19% of the stock is owned by company insiders.

Carvana Stock Down 4.5%

Shares of NYSE CVNA opened at $67.50 on Friday. The firm’s 50-day simple moving average is $67.86 and its 200 day simple moving average is $72.29. The company has a market cap of $74.04 billion, a price-to-earnings ratio of 41.06, a price-to-earnings-growth ratio of 11.34 and a beta of 3.46. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38.

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

Key Headlines 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

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.