Raiffeisen Bank International AG bought a new stake in Carvana Co. (NYSE:CVNA – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,843 shares of the company’s stock, valued at approximately $500,000.
A number of other institutional investors also recently added to or reduced their stakes in CVNA. NWF Advisory Services Inc. raised its holdings in shares of Carvana by 400.0% in the 2nd quarter. NWF Advisory Services Inc. now owns 7,710 shares of the company’s stock valued at $507,000 after purchasing an additional 6,168 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Carvana by 467.0% during the second quarter. TD Waterhouse Canada Inc. now owns 14,697 shares of the company’s stock worth $998,000 after purchasing an additional 12,105 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Carvana by 469.6% during the second quarter. Concurrent Investment Advisors LLC now owns 4,232 shares of the company’s stock worth $279,000 after purchasing an additional 3,489 shares in the last quarter. NEOS Investment Management LLC increased its holdings in Carvana by 472.7% in the second quarter. NEOS Investment Management LLC now owns 115,490 shares of the company’s stock valued at $7,602,000 after buying an additional 95,323 shares during the last quarter. Finally, Nykredit A S purchased a new position in Carvana in the second quarter valued at $18,369,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.
Insider Transactions at Carvana
In related news, VP Stephen Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $357,750.00. Following the transaction, the vice president owned 128,886 shares in the company, valued at $9,221,793.30. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of Carvana stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $75.00, for a total value of $1,089,375.00. Following the transaction, the director directly owned 214,960 shares in the company, valued at approximately $16,122,000. This trade represents a 6.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 415,300 shares of company stock worth $28,538,788. Insiders own 15.19% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Report on Carvana
Carvana Price Performance
Shares of CVNA opened at $74.65 on Monday. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The stock has a market cap of $82.15 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 2.15 and a beta of 3.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The firm has a fifty day moving average price of $68.89 and a 200 day moving average price of $68.31.
Carvana (NYSE:CVNA – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the company posted $1.51 earnings per share. The business’s quarterly revenue was up 52.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana Co. will post 1.68 EPS for the current year.
Carvana 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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