Navellier & Associates Inc. increased its position in shares of Carvana Co. (NYSE:CVNA – Free Report) by 119.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,153 shares of the company’s stock after purchasing an additional 17,531 shares during the period. Navellier & Associates Inc.’s holdings in Carvana were worth $2,116,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD lifted its holdings in Carvana by 8.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after buying an additional 1,407,762 shares during the last quarter. State Street Corp increased its holdings in shares of Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after acquiring an additional 2,764,759 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after acquiring an additional 1,711,144 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Carvana by 55.4% in the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after acquiring an additional 1,382,852 shares during the last quarter. Finally, Sands Capital Management LLC raised its position in shares of Carvana by 44.4% during the 4th quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock worth $1,030,798,000 after acquiring an additional 751,019 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.
Carvana Trading Up 0.2%
NYSE:CVNA opened at $74.24 on Friday. The stock’s 50 day moving average price is $68.10 and its 200 day moving average price is $68.34. The company has a market capitalization of $81.70 billion, a PE ratio of 41.06, a P/E/G ratio of 2.69 and a beta of 3.46. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38.
Insiders Place Their Bets
In related news, CFO Mark W. Jenkins sold 63,750 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the completion of the sale, the chief financial officer owned 1,029,580 shares in the company, valued at $70,361,497.20. This represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael E. Maroone acquired 25,000 shares of the stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $61.80 per share, for a total transaction of $1,545,000.00. Following the completion of the transaction, the director directly owned 168,573 shares in the company, valued at $10,417,811.40. The trade was a 17.41% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 420,897 shares of company stock worth $28,777,664. Corporate insiders own 15.19% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on CVNA. Wells Fargo & Company set a $80.00 target price on Carvana and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Citizens Jmp cut their price objective on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating on the stock in a report on Thursday, July 30th. Hovde Group boosted their price objective on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. BNP Paribas Exane lowered their target price on shares of Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Finally, UBS Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of Carvana in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.14.
Get Our Latest Stock Analysis on Carvana
About Carvana
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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