Bayforest Capital Ltd Acquires 243 Shares of Carvana Co. $CVNA

Bayforest Capital Ltd increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 13.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,016 shares of the company’s stock after purchasing an additional 243 shares during the period. Bayforest Capital Ltd’s holdings in Carvana were worth $679,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Carvana by 1.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock valued at $144,835,000 after purchasing an additional 9,694 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Carvana by 5.4% during the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock valued at $143,400,000 after purchasing an additional 35,168 shares in the last quarter. Finally, Contour Asset Management LLC lifted its stake in Carvana by 71.4% in the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock valued at $134,462,000 after acquiring an additional 267,994 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In related news, CEO Ernest C. Garcia III sold 2,880 shares of Carvana stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $355.19, for a total transaction of $1,022,947.20. Following the sale, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $124,316,500. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total value of $3,892,700.00. Following the sale, the chief operating officer owned 103,197 shares in the company, valued at $40,171,496.19. This trade represents a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,838,292 shares of company stock valued at $664,602,807. Company insiders own 16.36% of the company’s stock.

Carvana Trading Up 2.9%

NYSE CVNA opened at $338.77 on Tuesday. The business has a 50 day simple moving average of $364.73 and a 200 day simple moving average of $317.04. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The stock has a market capitalization of $72.90 billion, a P/E ratio of 84.91, a P/E/G ratio of 1.07 and a beta of 3.55. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the firm posted ($0.05) earnings per share. The firm’s revenue was up 41.9% on a year-over-year basis. Research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CVNA. Wells Fargo & Company boosted their target price on Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Piper Sandler boosted their target price on Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Bank of America upped their price objective on Carvana from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Stephens reiterated an “overweight” rating and set a $440.00 price objective on shares of Carvana in a research note on Tuesday, September 23rd. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $407.44.

Carvana Profile

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 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.