Carvana Co. $CVNA Shares Purchased by Empowered Funds LLC

Empowered Funds LLC boosted its position in Carvana Co. (NYSE:CVNA) by 140.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 90,630 shares of the company’s stock after acquiring an additional 53,009 shares during the period. Empowered Funds LLC’s holdings in Carvana were worth $5,965,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVNA. State Street Corp boosted its holdings in shares of Carvana by 93.7% during the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after purchasing an additional 2,764,759 shares during the last quarter. Capital Research Global Investors increased its stake in Carvana by 42.9% in the fourth 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 during the last quarter. Bank of America Corp DE increased its stake in Carvana by 372.0% in the second quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock valued at $117,939,000 after purchasing an additional 1,412,188 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Carvana by 8.6% during the fourth 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 period. Finally, Geode Capital Management LLC lifted its position in Carvana by 55.4% during the fourth 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. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

NYSE CVNA opened at $74.24 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The firm has a market capitalization of $81.70 billion, a P/E ratio of 41.06, a P/E/G ratio of 2.69 and a beta of 3.46. The business’s 50-day simple moving average is $68.10 and its 200-day simple moving average is $68.34.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. Carvana’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.51 earnings per share. Equities analysts predict that Carvana Co. will post 1.68 EPS for the current year.

Insider Buying and Selling

In related news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $3,225,000.00. Following the completion of the sale, the chief operating officer directly owned 535,709 shares of the company’s stock, valued at approximately $34,553,230.50. This represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $75.50, for a total value of $1,132,500.00. Following the completion of the sale, the director owned 186,470 shares of the company’s stock, valued at approximately $14,078,485. This represents a 7.45% 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 302,147 shares of company stock valued at $20,418,064. 15.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $80.00 price target on shares of Carvana in a research note on Friday, July 31st. Citigroup cut their price objective on shares of Carvana from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Wells Fargo & Company set a $80.00 target price on shares of Carvana and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the company an “outperform” rating in a report on Thursday, July 30th. Finally, Barclays dropped their price target on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

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.