State Street Corp Raises Stock Holdings in Carvana Co. $CVNA

State Street Corp boosted its position in shares of Carvana Co. (NYSE:CVNA) by 15.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,765,046 shares of the company’s stock after acquiring an additional 361,624 shares during the quarter. State Street Corp’s holdings in Carvana were worth $931,710,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Warren Street Wealth Advisors LLC increased its position in shares of Carvana by 2.8% in the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock valued at $388,000 after acquiring an additional 31 shares during the period. MAI Capital Management grew its stake in shares of Carvana by 1.8% in the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock worth $592,000 after purchasing an additional 31 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Carvana by 1.2% in the second quarter. Kingsview Wealth Management LLC now owns 4,611 shares of the company’s stock worth $1,554,000 after purchasing an additional 53 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Carvana by 5.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock valued at $256,000 after purchasing an additional 60 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in Carvana by 29.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 267 shares of the company’s stock valued at $90,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of CVNA stock opened at $472.66 on Friday. The company’s fifty day moving average price is $352.24 and its 200-day moving average price is $349.87. The stock has a market cap of $102.82 billion, a PE ratio of 107.91, a price-to-earnings-growth ratio of 1.69 and a beta of 3.51. 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 12 month low of $148.25 and a 12 month high of $475.00.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $460.00 target price on shares of Carvana in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Carvana in a report on Monday, December 1st. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Citigroup cut their target price on shares of Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, Zacks Research downgraded shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and an average price target of $433.76.

Insider Transactions at Carvana

In other Carvana news, COO Benjamin E. Huston sold 40,000 shares of Carvana stock in a transaction on Monday, December 8th. The stock was sold at an average price of $439.50, for a total transaction of $17,580,000.00. Following the completion of the transaction, the chief operating officer owned 100,758 shares in the company, valued at approximately $44,283,141. The trade was a 28.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel J. Gill sold 80,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $439.50, for a total value of $35,160,000.00. Following the completion of the sale, the insider directly owned 191,106 shares in the company, valued at $83,991,087. This trade represents a 29.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 544,332 shares of company stock worth $213,456,942. Company insiders own 17.12% of the company’s stock.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.