Carvana Co. $CVNA Shares Purchased by Vestcor Inc

Vestcor Inc increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 86.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,648 shares of the company’s stock after purchasing an additional 2,155 shares during the period. Vestcor Inc’s holdings in Carvana were worth $1,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its position in shares of Carvana by 124.9% in the 3rd quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock valued at $100,316,000 after purchasing an additional 147,683 shares during the last quarter. Hudson Bay Capital Management LP raised its holdings in shares of Carvana by 158.0% in the 2nd quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after purchasing an additional 10,090 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Carvana by 11.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock worth $240,476,000 after purchasing an additional 64,424 shares during the last quarter. Strs Ohio lifted its position in shares of Carvana by 89.9% during the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock worth $14,243,000 after purchasing an additional 17,878 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Carvana by 14.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock worth $76,662,000 after purchasing an additional 24,129 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Down 2.9%

Shares of NYSE:CVNA opened at $309.49 on Thursday. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $486.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73. The stock has a market cap of $67.73 billion, a P/E ratio of 38.49 and a beta of 3.60. The firm has a fifty day moving average price of $392.86 and a 200 day moving average price of $379.72.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, beating 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 previous year, the business posted $0.56 earnings per share. Carvana’s quarterly revenue was up 58.0% on a year-over-year basis. Sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Insider Transactions at Carvana

In other Carvana news, insider Daniel J. Gill sold 40,000 shares of Carvana stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $475.24, for a total value of $19,009,600.00. Following the transaction, the insider directly owned 191,106 shares in the company, valued at approximately $90,821,215.44. This trade represents a 17.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Taira sold 10,000 shares of Carvana stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.00, for a total value of $4,750,000.00. Following the completion of the transaction, the insider owned 69,880 shares in the company, valued at $33,193,000. This trade represents a 12.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 125,101 shares of company stock worth $55,448,660 over the last three months. 17.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several recent analyst reports. Argus upgraded Carvana to a “strong-buy” rating in a research note on Tuesday, March 3rd. UBS Group set a $485.00 price objective on Carvana in a research report on Friday, February 20th. Gordon Haskett dropped their price objective on Carvana from $435.00 to $350.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Weiss Ratings raised Carvana from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Finally, Bank of America decreased their target price on Carvana from $460.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. One investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $440.59.

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.