Carvana Co. $CVNA is Taylor Frigon Capital Management LLC’s 3rd Largest Position

Taylor Frigon Capital Management LLC reduced its holdings in Carvana Co. (NYSE:CVNA) by 29.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,052 shares of the company’s stock after selling 4,256 shares during the period. Carvana comprises 1.8% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 3rd biggest position. Taylor Frigon Capital Management LLC’s holdings in Carvana were worth $3,387,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVNA. J.Safra Asset Management Corp boosted its position in Carvana by 140.8% in the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company’s stock worth $709,000 after purchasing an additional 1,982 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Carvana by 333.1% in the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company’s stock valued at $740,000 after buying an additional 2,678 shares in the last quarter. Berkshire Capital Holdings Inc. raised its position in shares of Carvana by 632,200.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock worth $13,220,000 after acquiring an additional 63,220 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Carvana during the 4th quarter worth about $1,153,000. Finally, Praxis Investment Management Inc. grew its position in shares of Carvana by 56.0% during the 1st quarter. Praxis Investment Management Inc. now owns 4,400 shares of the company’s stock valued at $920,000 after acquiring an additional 1,580 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CVNA shares. Evercore ISI upped their price target on Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a report on Tuesday, August 12th. Needham & Company LLC boosted their price objective on Carvana from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Bank of America increased their target price on Carvana from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Wall Street Zen raised shares of Carvana from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Finally, Royal Bank Of Canada increased their price objective on shares of Carvana from $400.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $387.88.

Carvana Stock Down 0.5%

Shares of CVNA opened at $369.45 on Monday. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The stock has a fifty day simple moving average of $359.61 and a two-hundred day simple moving average of $303.54. The company has a market capitalization of $79.51 billion, a PE ratio of 92.59, a price-to-earnings-growth ratio of 1.21 and a beta of 3.51.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the business earned ($0.05) earnings per share. Carvana’s revenue was up 41.9% compared to the same quarter last year. As a group, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $353.76, for a total transaction of $35,376,000.00. Following the completion of the transaction, the insider directly owned 36,437,346 shares in the company, valued at $12,890,075,520.96. This trade represents a 0.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the completion of the transaction, the insider directly owned 6,624 shares of the company’s stock, valued at approximately $2,610,915.84. The trade was a 93.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,321,066 shares of company stock valued at $828,606,100. Company insiders own 16.36% of the company’s stock.

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.