Wilmington Savings Fund Society FSB Sells 543 Shares of Carvana Co. $CVNA

Wilmington Savings Fund Society FSB lessened its holdings in shares of Carvana Co. (NYSE:CVNA) by 16.2% in the second quarter, Holdings Channel.com reports. The fund owned 2,814 shares of the company’s stock after selling 543 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Carvana were worth $948,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hilltop National Bank bought a new position in Carvana in the second quarter worth $25,000. Brooklyn Investment Group raised its holdings in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Carvana in the first quarter worth $33,000. SJS Investment Consulting Inc. raised its holdings in Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Carvana in the second quarter worth $42,000. Institutional investors own 56.71% of the company’s stock.

Carvana Trading Down 3.1%

NYSE CVNA opened at $344.35 on Friday. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The stock has a market cap of $74.10 billion, a P/E ratio of 86.30, a P/E/G ratio of 1.16 and a beta of 3.55. The stock’s fifty day moving average price is $364.40 and its 200-day moving average price is $318.44. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

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

Insider Activity at Carvana

In related news, COO Benjamin E. Huston sold 10,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total transaction of $3,892,700.00. Following the sale, the chief operating officer directly owned 103,197 shares of the company’s stock, valued at $40,171,496.19. This trade represents a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total value of $390,140.00. Following the sale, the vice president directly owned 43,513 shares in the company, valued at $16,976,161.82. This trade represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,678,292 shares of company stock valued at $608,812,907 over the last three months. 17.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Jefferies Financial Group set a $475.00 price objective on Carvana and gave the stock a “buy” rating in a report on Wednesday, October 1st. Wells Fargo & Company increased their price objective on Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Piper Sandler increased their price objective on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. DA Davidson increased their price objective on Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Finally, Wall Street Zen raised Carvana from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $407.44.

Carvana Company 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.