Carvana Co. $CVNA Stock Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its position in shares of Carvana Co. (NYSE:CVNA) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,338 shares of the company’s stock after buying an additional 11,371 shares during the period. Rakuten Investment Management Inc.’s holdings in Carvana were worth $7,910,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Provenance Wealth Advisors LLC purchased a new position in shares of Carvana in the 3rd quarter worth $25,000. Ascentis Independent Advisors purchased a new stake in Carvana during the first quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC grew its position in Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after acquiring an additional 58 shares during the period. Transamerica Financial Advisors LLC grew its position in Carvana by 558.0% during the second quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock valued at $30,000 after acquiring an additional 385 shares during the period. Finally, GoalVest Advisory LLC increased its stake in Carvana by 400.0% during the second quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock worth $33,000 after acquiring an additional 400 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on CVNA shares. Robert W. Baird set a $72.00 price objective on Carvana in a report on Thursday, July 30th. Stephens reiterated an “overweight” rating and set a $83.00 target price (down from $91.50) on shares of Carvana in a report on Tuesday, October 6th. Citigroup reiterated a “market outperform” rating on shares of Carvana in a report on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $85.00 target price on shares of Carvana in a research report on Thursday, October 29th. Finally, Weiss Ratings lowered shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $82.09.

Insider Activity at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $3,577,500.00. Following the completion of the sale, the chief operating officer owned 478,693 shares of the company’s stock, valued at $34,250,484.15. This represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Taira sold 16,789 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $70.58, for a total value of $1,184,967.62. Following the completion of the sale, the insider owned 366,987 shares of the company’s stock, valued at approximately $25,901,942.46. This trade represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 635,960 shares of company stock valued at $44,962,096 over the last 90 days. Corporate insiders own 15.19% of the company’s stock.

Carvana Stock Down 6.9%

Shares of Carvana stock opened at $72.18 on Friday. The company has a fifty day moving average price of $65.82 and a 200 day moving average price of $69.03. The company has a current ratio of 4.05, a quick ratio of 2.43 and a debt-to-equity ratio of 0.86. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The stock has a market cap of $79.44 billion, a price-to-earnings ratio of 38.94, a price-to-earnings-growth ratio of 1.99 and a beta of 3.66.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). Carvana had a net margin of 6.21% and a return on equity of 34.77%. The company had revenue of $8.04 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm’s revenue for the quarter was up 42.4% on a year-over-year basis. Equities research analysts forecast that Carvana Co. will post 1.59 earnings per share for the current fiscal year.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.