Wakefield Asset Management LLLP Buys Shares of 6,316 Carvana Co. $CVNA

Wakefield Asset Management LLLP bought a new stake in shares of Carvana Co. (NYSE:CVNA) in the second quarter, HoldingsChannel reports. The institutional investor bought 6,316 shares of the company’s stock, valued at approximately $2,128,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD increased its stake in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Carvana in the first quarter worth $71,856,000. Contour Asset Management LLC increased its stake in shares of Carvana by 71.4% in the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock worth $134,462,000 after purchasing an additional 267,994 shares in the last quarter. Finally, National Pension Service purchased a new stake in shares of Carvana in the first quarter worth $39,090,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $360.20, for a total transaction of $36,020,000.00. Following the completion of the transaction, the insider owned 34,942,792 shares in the company, valued at $12,586,393,678.40. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $367.34, for a total transaction of $5,510,100.00. Following the transaction, the insider owned 113,792 shares of the company’s stock, valued at $41,800,353.28. This trade represents a 11.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 939,855 shares of company stock worth $338,492,060 over the last 90 days. 17.12% of the stock is owned by insiders.

Carvana Price Performance

Shares of NYSE:CVNA opened at $307.15 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.58 and a current ratio of 4.05. The firm has a fifty day moving average price of $362.58 and a 200 day moving average price of $331.01. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The firm has a market cap of $66.10 billion, a price-to-earnings ratio of 70.13, a P/E/G ratio of 0.98 and a beta of 3.55.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the company posted $0.64 EPS. Carvana’s revenue was up 54.5% compared to the same quarter last year. As a group, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Carvana in a research note on Tuesday, October 14th. BTIG Research reissued a “buy” rating and issued a $450.00 price objective on shares of Carvana in a research note on Thursday. DA Davidson set a $360.00 price objective on shares of Carvana in a research note on Thursday. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Finally, Evercore ISI dropped their target price on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $418.00.

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.