Donoghue Forlines LLC Makes New Investment in Carvana Co. $CVNA

Donoghue Forlines LLC acquired a new position in Carvana Co. (NYSE:CVNA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,942 shares of the company’s stock, valued at approximately $2,676,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hilltop National Bank bought a new stake in Carvana during the second quarter valued at about $25,000. Brooklyn Investment Group increased its stake in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Carvana in the 1st quarter valued at $33,000. SJS Investment Consulting Inc. increased 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 valued at $36,000 after purchasing an additional 96 shares during the period. Finally, LRI Investments LLC acquired a new position in Carvana in the 2nd quarter worth approximately $42,000. Institutional investors own 56.71% of the company’s stock.

Insider Activity

In other Carvana news, insider Ryan S. Keeton sold 32,370 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the transaction, the insider owned 115,456 shares of the company’s stock, valued at approximately $34,830,766.08. The trade was a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $364.66, for a total value of $3,646,600.00. Following the completion of the sale, the chief operating officer owned 104,416 shares of the company’s stock, valued at approximately $38,076,338.56. The trade was a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 426,452 shares of company stock valued at $154,720,683 in the last 90 days. 17.12% of the stock is owned by insiders.

Analyst Ratings Changes

CVNA has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Bank of America cut their price objective 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. Piper Sandler increased their target price on shares of Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Citigroup dropped their target price on Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Finally, JMP Securities lifted their price target on Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Fifteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $414.16.

Carvana Stock Performance

CVNA opened at $319.04 on Friday. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The firm has a market capitalization of $69.40 billion, a PE ratio of 72.84, a PEG ratio of 1.19 and a beta of 3.50. 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’s 50-day moving average price is $352.99 and its 200 day moving average price is $336.44.

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

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.