Carvana Co. $CVNA Position Increased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Carvana Co. (NYSE:CVNA) by 100.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 495,382 shares of the company’s stock after buying an additional 248,064 shares during the period. Franklin Resources Inc.’s holdings in Carvana were worth $186,878,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CVNA. Silvant Capital Management LLC raised its position in shares of Carvana by 51.4% during the third quarter. Silvant Capital Management LLC now owns 18,589 shares of the company’s stock worth $7,013,000 after purchasing an additional 6,312 shares during the period. Tabor Asset Management LP raised its holdings in Carvana by 4.6% during the 3rd quarter. Tabor Asset Management LP now owns 5,295 shares of the company’s stock worth $1,997,000 after buying an additional 234 shares during the period. Capital Research Global Investors lifted its stake in Carvana by 0.5% during the third quarter. Capital Research Global Investors now owns 3,989,809 shares of the company’s stock valued at $1,505,186,000 after buying an additional 18,631 shares in the last quarter. Capital World Investors boosted its holdings in shares of Carvana by 28.8% in the third quarter. Capital World Investors now owns 806,243 shares of the company’s stock worth $304,147,000 after buying an additional 180,185 shares during the period. Finally, BW Gestao de Investimentos Ltda. increased its position in shares of Carvana by 110.5% in the third quarter. BW Gestao de Investimentos Ltda. now owns 8,000 shares of the company’s stock worth $3,018,000 after acquiring an additional 4,200 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Stephen R. Palmer sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $393.04, for a total value of $393,040.00. Following the transaction, the vice president directly owned 37,192 shares of the company’s stock, valued at approximately $14,617,943.68. This trade represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Taira sold 953 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $325.00, for a total value of $309,725.00. Following the completion of the sale, the insider owned 64,997 shares of the company’s stock, valued at approximately $21,124,025. This trade represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 53,574 shares of company stock valued at $21,463,735. 17.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVNA shares. BTIG Research reduced their price target on shares of Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Jefferies Financial Group lowered their price objective on shares of Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft cut 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 target price on shares of Carvana in a research report on Thursday, February 19th. Finally, Wells Fargo & Company lowered their price target on Carvana from $525.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $440.59.

Carvana Stock Down 5.4%

Carvana stock opened at $292.70 on Friday. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $486.89. The firm’s fifty day simple moving average is $390.27 and its 200-day simple moving average is $379.11. The company has a market capitalization of $64.06 billion, a P/E ratio of 36.41 and a beta of 3.60.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. Carvana’s revenue for the quarter was up 58.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share. Sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.