Carvana Co. $CVNA Shares Acquired by Vestcor Inc

Vestcor Inc increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 86.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,648 shares of the company’s stock after buying an additional 2,155 shares during the period. Vestcor Inc’s holdings in Carvana were worth $1,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Carvana by 5.4% during the third quarter. Vanguard Group Inc. now owns 13,454,986 shares of the company’s stock worth $5,075,759,000 after acquiring an additional 690,756 shares during the period. State Street Corp boosted its stake in shares of Carvana by 15.0% in the second quarter. State Street Corp now owns 2,765,046 shares of the company’s stock worth $931,710,000 after acquiring an additional 361,624 shares during the last quarter. Geode Capital Management LLC boosted its stake in Carvana by 11.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock worth $750,301,000 after purchasing an additional 221,161 shares during the last quarter. Sands Capital Management LLC boosted its position in Carvana by 1,374.3% during the second quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock worth $303,677,000 after acquiring an additional 840,096 shares during the last quarter. Finally, Norges Bank acquired a new position in Carvana during the second quarter worth about $259,468,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CVNA. Royal Bank Of Canada cut their price objective on shares of Carvana from $500.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Barclays dropped their price target on Carvana from $530.00 to $450.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Bank of America cut their price target on Carvana from $460.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Needham & Company LLC reiterated a “buy” rating and set a $500.00 price objective on shares of Carvana in a research report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Carvana from $600.00 to $519.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.59.

Insiders Place Their Bets

In related news, insider Thomas Taira sold 953 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $325.00, for a total transaction of $309,725.00. Following the completion of the transaction, the insider directly owned 64,997 shares in the company, valued at $21,124,025. This trade represents a 1.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Danforth Quayle sold 2,900 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $309.97, for a total value of $898,913.00. Following the transaction, the director owned 41,913 shares of the company’s stock, valued at $12,991,772.61. This trade represents a 6.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 125,101 shares of company stock valued at $55,448,660. Insiders own 17.12% of the company’s stock.

Carvana Stock Performance

Shares of CVNA stock opened at $309.49 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31. The firm has a market cap of $67.73 billion, a P/E ratio of 38.49 and a beta of 3.60. The firm’s 50 day moving average price is $392.86 and its 200-day moving average price is $379.72. Carvana Co. has a one year low of $148.25 and a one year high of $486.89.

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