Sands Capital Management LLC lifted its position in shares of Carvana Co. (NYSE:CVNA – Free Report) by 44.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,442,534 shares of the company’s stock after purchasing an additional 751,019 shares during the period. Carvana comprises about 3.1% of Sands Capital Management LLC’s holdings, making the stock its 8th largest position. Sands Capital Management LLC’s holdings in Carvana were worth $1,030,798,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of CVNA. Royal Bank of Canada lifted its position in shares of Carvana by 40.8% during the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after purchasing an additional 8,654 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after purchasing an additional 181 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Carvana by 28.8% during the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after purchasing an additional 1,226 shares during the last quarter. AXA S.A. lifted its position in shares of Carvana by 340.7% during the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after purchasing an additional 3,288 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Carvana by 9.1% during the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after purchasing an additional 825 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Carvana
In related news, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.39, for a total value of $3,519,500.00. Following the completion of the sale, the chief operating officer directly owned 515,769 shares of the company’s stock, valued at $36,304,979.91. The trade was a 8.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Danforth Quayle sold 14,525 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the completion of the sale, the director directly owned 214,960 shares of the company’s stock, valued at $15,047,200. The trade was a 6.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 400,812 shares of company stock valued at $28,039,446 over the last quarter. 15.19% of the stock is owned by corporate insiders.
Carvana Price Performance
Carvana (NYSE:CVNA – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. As a group, sell-side analysts anticipate that Carvana Co. will post 1.58 EPS for the current year.
Analysts Set New Price Targets
Several research firms have recently issued reports on CVNA. UBS Group reaffirmed a “buy” rating and set a $104.00 price objective (up from $97.00) on shares of Carvana in a research report on Thursday, April 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Carvana in a research report on Friday. DA Davidson lifted their price objective on shares of Carvana from $64.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. BTIG Research reaffirmed a “buy” rating and set a $97.00 price objective on shares of Carvana in a research report on Friday, June 5th. Finally, Morgan Stanley lifted their price objective on shares of Carvana from $90.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $93.14.
View Our Latest Report on Carvana
Carvana Company Profile
Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.
Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.
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