Optimize Financial Inc. Purchases 8,033 Shares of Carvana Co. $CVNA

Optimize Financial Inc. increased its position in shares of Carvana Co. (NYSE:CVNA) by 398.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,050 shares of the company’s stock after acquiring an additional 8,033 shares during the quarter. Optimize Financial Inc.’s holdings in Carvana were worth $661,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new position in Carvana during the 1st quarter valued at about $26,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Carvana during the 4th quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC grew 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 buying an additional 58 shares during the period. Transamerica Financial Advisors LLC grew its position in shares of Carvana by 558.0% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock worth $30,000 after buying an additional 385 shares during the period. Finally, Motiv8 Investments LLC bought a new stake in shares of Carvana during the fourth quarter worth approximately $33,000. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective on shares of Carvana in a report on Thursday, July 30th. Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the stock an “outperform” rating in a report on Thursday, July 30th. Citizens Jmp dropped their target price on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a research report on Thursday, July 30th. Jefferies Financial Group cut their price target on Carvana from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $80.00 price target on shares of Carvana in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.14.

Carvana Stock Up 0.1%

Carvana stock opened at $74.65 on Monday. The firm has a market capitalization of $82.15 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 2.15 and a beta of 3.49. The company’s 50 day simple moving average is $68.89 and its 200 day simple moving average is $68.31. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.51 earnings per share. As a group, sell-side analysts anticipate that Carvana Co. will post 1.68 EPS for the current year.

Insider Buying and Selling

In related news, CFO Mark Jenkins sold 63,750 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $75.00, for a total transaction of $1,089,375.00. Following the completion of the sale, the director owned 214,960 shares of the company’s stock, valued at approximately $16,122,000. This represents a 6.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 415,300 shares of company stock worth $28,538,788 over the last ninety 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.