Crosslink Capital Inc. boosted its stake in shares of Carvana Co (NYSE:CVNA) by 20.3% in the second quarter, Holdings Channel reports. The firm owned 375,489 shares of the company’s stock after acquiring an additional 63,360 shares during the period. Carvana comprises about 5.4% of Crosslink Capital Inc.’s holdings, making the stock its 8th biggest position. Crosslink Capital Inc.’s holdings in Carvana were worth $23,502,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Keybank National Association OH boosted its position in shares of Carvana by 1.5% in the first quarter. Keybank National Association OH now owns 9,759 shares of the company’s stock valued at $567,000 after acquiring an additional 141 shares during the period. D.A. Davidson & CO. boosted its position in shares of Carvana by 2.6% in the second quarter. D.A. Davidson & CO. now owns 5,700 shares of the company’s stock valued at $357,000 after acquiring an additional 145 shares during the period. Natixis Advisors L.P. boosted its position in shares of Carvana by 2.4% in the second quarter. Natixis Advisors L.P. now owns 12,304 shares of the company’s stock valued at $770,000 after acquiring an additional 293 shares during the period. Resources Investment Advisors LLC. boosted its position in shares of Carvana by 150.0% in the second quarter. Resources Investment Advisors LLC. now owns 500 shares of the company’s stock valued at $31,000 after acquiring an additional 300 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Carvana by 12.9% in the second quarter. Commonwealth Equity Services LLC now owns 4,242 shares of the company’s stock valued at $265,000 after acquiring an additional 486 shares during the period. 37.05% of the stock is owned by hedge funds and other institutional investors.
CVNA stock traded up $0.03 during midday trading on Friday, hitting $80.41. The stock had a trading volume of 5,763 shares, compared to its average volume of 1,440,730. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of -46.50 and a beta of 2.24. Carvana Co has a 52 week low of $28.44 and a 52 week high of $85.07. The stock has a 50-day simple moving average of $75.05 and a 200 day simple moving average of $64.47. The company has a current ratio of 3.83, a quick ratio of 1.40 and a debt-to-equity ratio of 2.10.
Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.01). The firm had revenue of $986.22 million during the quarter, compared to the consensus estimate of $914.50 million. Carvana had a negative return on equity of 30.55% and a negative net margin of 3.49%. The firm’s revenue for the quarter was up 107.5% compared to the same quarter last year. During the same period last year, the business earned ($0.37) earnings per share. On average, equities analysts forecast that Carvana Co will post -1.81 EPS for the current year.
In other Carvana news, insider Daniel J. Gill sold 12,500 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $67.65, for a total transaction of $845,625.00. Following the completion of the transaction, the insider now directly owns 10,683 shares in the company, valued at $722,704.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 10,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $62.72, for a total value of $627,200.00. Following the transaction, the insider now owns 10,628 shares of the company’s stock, valued at $666,588.16. The disclosure for this sale can be found here. Insiders have sold 189,861 shares of company stock valued at $14,527,351 over the last quarter. Corporate insiders own 13.02% of the company’s stock.
Several equities research analysts have recently weighed in on CVNA shares. Cowen reissued an “outperform” rating and issued a $85.00 price objective (up from $81.00) on shares of Carvana in a research report on Thursday, August 8th. Barrington Research reissued a “hold” rating on shares of Carvana in a research report on Monday, August 5th. Zacks Investment Research cut Carvana from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. ValuEngine cut Carvana from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets raised their target price on Carvana from $65.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Carvana has an average rating of “Hold” and a consensus price target of $76.25.
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.
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