UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Carvana Co. (NYSE:CVNA – Free Report) by 345.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,325,237 shares of the company’s stock after purchasing an additional 2,579,295 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Carvana were worth $218,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Carvana by 93.7% in the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after acquiring an additional 2,764,759 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after acquiring an additional 1,711,144 shares during the period. Bank of America Corp DE raised its stake in Carvana by 372.0% during the 2nd quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock valued at $117,939,000 after buying an additional 1,412,188 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Carvana by 8.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after acquiring an additional 1,407,762 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after acquiring an additional 1,382,852 shares during the period. 56.71% of the stock is currently owned by institutional investors.
Carvana Stock Down 0.8%
Shares of Carvana stock opened at $73.48 on Tuesday. 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 stock has a market cap 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 firm’s 50-day moving average is $68.24 and its two-hundred day moving average is $68.27. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38.
Insider Buying and Selling
In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total value of $3,225,000.00. Following the completion of the transaction, the chief operating officer directly owned 535,709 shares of the company’s stock, valued at $34,553,230.50. This trade represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $75.00, for a total transaction of $1,089,375.00. Following the completion of the transaction, the director directly owned 214,960 shares of the company’s stock, valued at approximately $16,122,000. This represents a 6.33% decrease in their position. 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 a total of 302,147 shares of company stock valued at $20,418,064 in the last 90 days. 15.19% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on CVNA shares. Evercore set a $75.00 target price on shares of Carvana in a research note on Thursday, July 30th. Argus cut their price target on Carvana from $500.00 to $100.00 in a report on Monday, May 11th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Carvana in a research note on Thursday, July 30th. BNP Paribas Exane cut their target price on Carvana from $86.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, July 30th. Finally, Jefferies Financial Group cut their price target on shares of Carvana from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.14.
Get Our Latest Research 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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