Diversified Trust Co Increases Stock Position in Carvana Co. (NYSE:CVNA)

Diversified Trust Co boosted its position in shares of Carvana Co. (NYSE:CVNA) by 53.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,678 shares of the company’s stock after buying an additional 3,019 shares during the quarter. Diversified Trust Co’s holdings in Carvana were worth $763,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in shares of Carvana during the 4th quarter valued at approximately $29,000. Parallel Advisors LLC grew its position in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the period. Tidemark LLC purchased a new stake in shares of Carvana during the fourth quarter worth about $50,000. Headlands Technologies LLC acquired a new position in shares of Carvana during the 4th quarter worth about $87,000. Finally, Russell Investments Group Ltd. raised its position in shares of Carvana by 112.9% during the 4th quarter. Russell Investments Group Ltd. now owns 1,699 shares of the company’s stock worth $90,000 after purchasing an additional 901 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In other news, COO Benjamin E. Huston sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $115.07, for a total value of $2,071,260.00. Following the transaction, the chief operating officer now directly owns 213,548 shares in the company, valued at approximately $24,572,968.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $125.43, for a total value of $9,407,250.00. Following the completion of the transaction, the insider now directly owns 2,917,500 shares of the company’s stock, valued at approximately $365,942,025. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Benjamin E. Huston sold 18,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $115.07, for a total transaction of $2,071,260.00. Following the sale, the chief operating officer now directly owns 213,548 shares in the company, valued at approximately $24,572,968.36. The disclosure for this sale can be found here. Insiders sold a total of 1,793,946 shares of company stock worth $196,342,406 over the last three months. Insiders own 17.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CVNA shares. TD Cowen boosted their price objective on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and increased their price objective for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Robert W. Baird lifted their target price on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Wells Fargo & Company increased their target price on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Carvana presently has a consensus rating of “Hold” and an average target price of $88.50.

Carvana Stock Up 2.6 %

CVNA stock opened at $127.55 on Wednesday. Carvana Co. has a 52-week low of $23.43 and a 52-week high of $136.92. The stock has a market cap of $25.84 billion, a price-to-earnings ratio of 55.94 and a beta of 3.37. The business has a fifty day moving average of $109.83 and a two-hundred day moving average of $79.75.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. As a group, sell-side analysts anticipate that Carvana Co. will post -0.75 EPS for the current year.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.