Cullen Frost Bankers Inc. Sells 62 Shares of Carvana Co. $CVNA

Cullen Frost Bankers Inc. trimmed its stake in shares of Carvana Co. (NYSE:CVNA) by 16.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 322 shares of the company’s stock after selling 62 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Carvana were worth $109,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Hilltop National Bank acquired a new position in Carvana during the second quarter worth about $25,000. Brooklyn Investment Group lifted its holdings in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Carvana in the first quarter worth about $33,000. SJS Investment Consulting Inc. lifted its holdings in shares of 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 acquiring an additional 96 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of Carvana in the second quarter worth about $42,000. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $390.14, for a total value of $390,140.00. Following the completion of the sale, the vice president owned 43,513 shares of the company’s stock, valued at approximately $16,976,161.82. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $398.00, for a total value of $5,970,000.00. Following the completion of the sale, the insider directly owned 81,716 shares of the company’s stock, valued at approximately $32,522,968. The trade was a 15.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,498,292 shares of company stock valued at $547,914,707. Corporate insiders own 17.12% of the company’s stock.

Carvana Trading Up 2.7%

Shares of CVNA stock opened at $351.33 on Friday. The stock has a market cap of $75.61 billion, a price-to-earnings ratio of 88.05, a PEG ratio of 1.12 and a beta of 3.55. The stock has a 50-day moving average of $363.68 and a 200-day moving average of $325.82. 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 Co. has a 1-year low of $148.25 and a 1-year high of $413.33.

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

Analyst Ratings Changes

A number of research firms have recently commented on CVNA. DA Davidson increased their target price on shares of Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Oppenheimer raised shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price for the company in a report on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Carvana in a report on Tuesday, October 14th. Zacks Research raised Carvana from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Gordon Haskett began coverage on Carvana in a report on Monday, July 14th. They issued a “hold” rating and a $329.00 target price for the company. 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’s stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus target price of $419.94.

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.