Carvana Co. $CVNA Shares Acquired by Aviva PLC

Aviva PLC boosted its position in Carvana Co. (NYSE:CVNA) by 38.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,697 shares of the company’s stock after purchasing an additional 25,280 shares during the period. Aviva PLC’s holdings in Carvana were worth $30,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Warren Street Wealth Advisors LLC raised its stake in shares of Carvana by 2.8% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock worth $388,000 after buying an additional 31 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Carvana by 5.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after acquiring an additional 60 shares during the period. Harbour Investments Inc. raised its position in Carvana by 46.5% in the second quarter. Harbour Investments Inc. now owns 208 shares of the company’s stock worth $70,000 after acquiring an additional 66 shares in the last quarter. Commerce Bank lifted its holdings in Carvana by 1.6% in the first quarter. Commerce Bank now owns 4,446 shares of the company’s stock valued at $930,000 after acquiring an additional 69 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Carvana by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock worth $466,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVNA. Bank of America cut their price target on shares of Carvana from $405.00 to $385.00 and set a “buy” rating for the company in a report on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Morgan Stanley set a $450.00 price objective on Carvana in a report on Monday, October 20th. Citigroup lowered their target price on Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Finally, Zacks Research cut Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $415.50.

Insider Buying and Selling

In related news, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $364.42, for a total value of $4,646,355.00. Following the transaction, the chief financial officer owned 208,581 shares in the company, valued at approximately $76,011,088.02. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $375.00, for a total value of $5,625,000.00. Following the sale, the insider directly owned 83,018 shares of the company’s stock, valued at approximately $31,131,750. This trade represents a 15.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 610,975 shares of company stock worth $219,153,803 over the last 90 days. Company insiders own 16.36% of the company’s stock.

Carvana Stock Up 4.9%

Shares of NYSE:CVNA opened at $304.49 on Monday. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The firm has a market cap of $66.24 billion, a price-to-earnings ratio of 69.52, a PEG ratio of 1.10 and a beta of 3.50. The stock’s 50-day moving average price is $356.50 and its two-hundred day moving average price is $335.37. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $413.33.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $5.04 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The company’s revenue was up 54.5% on a year-over-year basis. On average, research analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

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.