Jefferies Financial Group Inc. lessened its position in Carvana Co. (NYSE:CVNA – Free Report) by 65.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,070 shares of the company’s stock after selling 9,628 shares during the period. Jefferies Financial Group Inc.’s holdings in Carvana were worth $334,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of CVNA. Ascentis Independent Advisors bought a new position in shares of Carvana during the first quarter worth $26,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Carvana in the 4th quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the period. Transamerica Financial Advisors LLC raised its stake in Carvana by 558.0% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock worth $30,000 after buying an additional 385 shares during the period. Finally, Motiv8 Investments LLC bought a new position in Carvana during the fourth quarter worth about $33,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Argus decreased their target price on Carvana from $500.00 to $100.00 in a research note on Monday, May 11th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price objective on shares of Carvana in a report on Thursday, July 30th. UBS Group reiterated a “buy” rating and issued a $83.00 price objective on shares of Carvana in a research report on Friday, July 31st. BNP Paribas Exane lowered their target price on Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. Finally, Barclays dropped their target price on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.
Carvana Trading Down 0.8%
NYSE CVNA opened at $73.48 on Tuesday. The stock has a market capitalization of $80.86 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 2.69 and a beta of 3.46. The stock’s 50 day moving average price is $68.24 and its two-hundred day moving average price is $68.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38.
Carvana (NYSE:CVNA – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The firm had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm posted $1.51 EPS. The business’s revenue was up 52.4% on a year-over-year basis. As a group, analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current fiscal year.
Insider Buying and Selling at Carvana
In related news, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total value of $4,356,675.00. Following the completion of the transaction, the chief financial officer owned 1,029,580 shares of the company’s stock, valued at approximately $70,361,497.20. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction on Friday, August 14th. The shares were sold at an average price of $75.50, for a total transaction of $1,132,500.00. Following the completion of the sale, the director owned 186,470 shares in the company, valued at $14,078,485. The trade was a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 302,147 shares of company stock valued at $20,418,064 in the last three months. 15.19% of the stock is currently owned by insiders.
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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