Chesley Taft & Associates LLC Purchases 10,779 Shares of Carvana Co. $CVNA

Chesley Taft & Associates LLC boosted its position in Carvana Co. (NYSE:CVNA) by 578.6% in the second quarter, Holdings Channel.com reports. The firm owned 12,642 shares of the company’s stock after purchasing an additional 10,779 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Carvana were worth $832,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 purchasing an additional 1,407,762 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Carvana by 24.7% in the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock valued at $7,082,804,000 after buying an additional 3,328,115 shares during the period. State Street Corp raised its holdings in Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after buying an additional 2,764,759 shares during the last quarter. Capital Research Global Investors raised its holdings in Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after buying an additional 1,711,144 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Carvana by 55.4% during the 4th 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.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 50,000 shares of the 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 in the company, valued at $34,553,230.50. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael E. Maroone bought 25,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $61.80 per share, with a total value of $1,545,000.00. Following the purchase, the director directly owned 168,573 shares of the company’s stock, valued at $10,417,811.40. The trade was a 17.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 391,372 shares of company stock worth $26,555,789. Corporate insiders own 15.19% of the company’s stock.

Carvana Price Performance

Carvana stock opened at $70.83 on Friday. The stock’s 50 day moving average is $66.55 and its 200 day moving average is $69.82. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The firm has a market cap of $77.95 billion, a P/E ratio of 39.18, a P/E/G ratio of 2.62 and a beta of 3.46. 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 (NYSE:CVNA) last released its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm posted $1.51 EPS. The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. As a group, research analysts expect that Carvana Co. will post 1.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CVNA shares. Barclays reduced their target price on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Royal Bank Of Canada set a $82.00 price target on shares of Carvana and gave the company an “outperform” rating in a research note on Thursday, July 30th. Argus cut their price target on shares of Carvana from $500.00 to $100.00 in a report on Monday, May 11th. BNP Paribas Exane reduced their price objective on shares of Carvana from $86.00 to $69.00 and set a “hold” rating on the stock in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $80.00 price objective on shares of Carvana in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently 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.