Xponance Inc. Buys 1,502 Shares of Carvana Co. $CVNA

Xponance Inc. grew its stake in shares of Carvana Co. (NYSE:CVNA) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,417 shares of the company’s stock after buying an additional 1,502 shares during the quarter. Xponance Inc.’s holdings in Carvana were worth $9,966,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ORG Partners LLC raised its stake in shares of Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after acquiring an additional 87 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Carvana in the 3rd quarter worth about $38,000. Washington Trust Advisors Inc. bought a new stake in shares of Carvana during the third quarter valued at approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Carvana in the 2nd quarter worth $38,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Carvana in the second quarter worth approximately $49,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings raised shares of Carvana from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Barclays decreased their price target on shares of Carvana from $530.00 to $450.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Wells Fargo & Company reduced their target price on shares of Carvana from $525.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Evercore decreased their price objective on shares of Carvana from $430.00 to $390.00 in a report on Thursday, February 19th. Finally, JPMorgan Chase & Co. cut their price target on Carvana from $510.00 to $490.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $440.59.

Carvana Price Performance

CVNA stock opened at $334.31 on Friday. The business’s fifty day moving average price is $411.14 and its 200 day moving average price is $381.01. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $486.89. The company has a market capitalization of $73.16 billion, a PE ratio of 41.58 and a beta of 3.57. 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 (NYSE:CVNA) last issued its quarterly earnings results 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. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. The business’s revenue for the quarter was up 58.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $438.50, for a total transaction of $8,770,000.00. Following the completion of the transaction, the insider owned 69,289 shares in the company, valued at $30,383,226.50. The trade was a 22.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael E. Maroone sold 30,928 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $400.34, for a total value of $12,381,715.52. Following the completion of the sale, the director owned 143,573 shares in the company, valued at approximately $57,478,014.82. This represents a 17.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 390,351 shares of company stock valued at $168,588,549 in the last 90 days. Insiders own 17.12% of the company’s stock.

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.