US Bancorp DE Raises Stock Position in Carvana Co. (NYSE:CVNA)

US Bancorp DE grew its stake in Carvana Co. (NYSE:CVNA) by 80.1% in the 3rd quarter, Holdings Channel reports. The firm owned 10,342 shares of the company’s stock after purchasing an additional 4,599 shares during the period. US Bancorp DE’s holdings in Carvana were worth $1,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CVNA. Driehaus Capital Management LLC raised its stake in Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after buying an additional 323,153 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Carvana by 89.2% during the 3rd quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock worth $9,229,000 after acquiring an additional 24,996 shares during the period. Highland Capital Management LLC bought a new position in shares of Carvana in the 3rd quarter worth approximately $1,314,000. Legacy Capital Group California Inc. purchased a new position in shares of Carvana in the 3rd quarter valued at approximately $1,248,000. Finally, Chicago Capital LLC bought a new stake in shares of Carvana during the third quarter valued at approximately $940,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. DA Davidson increased their price objective on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stephens started coverage on shares of Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target for the company. JMP Securities upped their price objective on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. BTIG Research lifted their target price on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC upped their price target on Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana presently has a consensus rating of “Hold” and a consensus target price of $217.71.

Carvana Stock Up 1.4 %

CVNA opened at $238.93 on Thursday. The stock has a market capitalization of $49.45 billion, a price-to-earnings ratio of 23,578.00 and a beta of 3.37. The firm has a 50 day moving average price of $177.23 and a 200-day moving average price of $140.97. Carvana Co. has a twelve month low of $27.75 and a twelve month high of $259.39. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the company earned $0.23 earnings per share. Carvana’s quarterly revenue was up 31.8% compared to the same quarter last year. Equities research analysts forecast that Carvana Co. will post 0.53 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the completion of the sale, the chief financial officer now directly owns 170,732 shares in the company, valued at $41,279,582.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $134.06, for a total value of $10,054,500.00. Following the transaction, the insider now directly owns 940,814 shares of the company’s stock, valued at approximately $126,125,524.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $241.78, for a total value of $4,835,600.00. Following the sale, the chief financial officer now directly owns 170,732 shares of the company’s stock, valued at $41,279,582.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,810,251 shares of company stock valued at $494,577,629. 17.18% of the stock is owned by company insiders.

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.