Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Carvana Co. $CVNA

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Carvana Co. (NYSE:CVNA) by 9.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,735 shares of the company’s stock after buying an additional 9,636 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.05% of Carvana worth $42,528,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. ORG Partners LLC increased its holdings in shares of Carvana by 8,700.0% in the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after acquiring an additional 87 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new stake in Carvana during the 3rd quarter worth $38,000. Washington Trust Advisors Inc. purchased a new position in Carvana during the 3rd quarter worth $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Carvana in the second quarter valued at $38,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Carvana in the second quarter valued at $49,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Down 5.5%

Carvana stock opened at $334.31 on Friday. The stock’s 50 day moving average price is $411.14 and its 200 day moving average price is $381.26. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $486.89. The company has a market cap of $73.16 billion, a PE ratio of 41.58 and a beta of 3.57. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $3.12. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a return on equity of 50.96% and a net margin of 6.92%.Carvana’s quarterly revenue was up 58.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. On average, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CVNA. DA Davidson lowered their price target on Carvana from $470.00 to $320.00 and set a “neutral” rating on the stock in a report on Thursday, February 19th. Bank of America lowered their target price on Carvana from $460.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Jefferies Financial Group dropped their target price on Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Stephens restated an “overweight” rating and set a $519.00 price target on shares of Carvana in a research note on Thursday, February 19th. Finally, Evercore lowered their price objective on shares of Carvana from $430.00 to $390.00 in a research report on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $440.59.

Insider Transactions at Carvana

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $393.04, for a total transaction of $393,040.00. Following the transaction, the vice president directly owned 37,192 shares in the company, valued at approximately $14,617,943.68. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas Taira sold 1,047 shares of Carvana stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $398.54, for a total transaction of $417,271.38. Following the sale, the insider owned 66,625 shares of the company’s stock, valued at approximately $26,552,727.50. The trade was a 1.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 390,351 shares of company stock valued at $168,588,549. 17.12% of the stock is owned by company insiders.

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.