Swiss National Bank Increases Position in Carvana Co. $CVNA

Swiss National Bank grew its position in Carvana Co. (NYSE:CVNA) by 9.9% during the first quarter, Holdings Channel.com reports. The firm owned 395,180 shares of the company’s stock after acquiring an additional 35,720 shares during the period. Swiss National Bank’s holdings in Carvana were worth $124,237,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ascentis Independent Advisors purchased a new stake in Carvana during the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Carvana in the 4th quarter valued at about $29,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Carvana during the 4th quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in Carvana during the fourth quarter worth approximately $33,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE:CVNA opened at $64.06 on Tuesday. The firm’s fifty day moving average price is $67.61 and its 200 day moving average price is $72.13. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The firm has a market cap of $70.26 billion, a price-to-earnings ratio of 38.96, a price-to-earnings-growth ratio of 11.34 and a beta of 3.46.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. On average, sell-side analysts expect that Carvana Co. will post 1.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVNA. DA Davidson increased their price target on shares of Carvana from $64.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Wells Fargo & Company upped their target price on shares of Carvana from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Evercore boosted their price target on shares of Carvana from $78.00 to $80.00 in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $107.40 price objective on shares of Carvana in a research note on Thursday, April 30th. Finally, Zacks Research lowered Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.92.

Insider Transactions at Carvana

In other Carvana news, Director J Danforth Quayle sold 14,525 shares of Carvana stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total value of $1,016,750.00. Following the sale, the director owned 214,960 shares of the company’s stock, valued at approximately $15,047,200. The trade was a 6.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.55, for a total value of $3,427,500.00. Following the transaction, the chief operating officer owned 458,755 shares in the company, valued at $31,447,655.25. The trade was a 9.83% 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 have sold 396,962 shares of company stock valued at $28,525,088 over the last 90 days. Insiders own 15.19% of the company’s stock.

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.