Carvana Co. (NYSE:CVNA) Position Lifted by Xponance Inc.

Xponance Inc. raised its stake in Carvana Co. (NYSE:CVNA) by 21.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,731 shares of the company’s stock after purchasing an additional 1,377 shares during the period. Xponance Inc.’s holdings in Carvana were worth $995,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CVNA. Bank of Montreal Can increased its holdings in Carvana by 80.7% in the second quarter. Bank of Montreal Can now owns 203,414 shares of the company’s stock valued at $26,281,000 after buying an additional 90,835 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of Carvana during the 2nd quarter valued at approximately $3,270,000. Sei Investments Co. lifted its stake in Carvana by 158.3% during the second quarter. Sei Investments Co. now owns 11,165 shares of the company’s stock worth $1,437,000 after purchasing an additional 6,843 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Carvana by 42.2% in the second quarter. Canada Pension Plan Investment Board now owns 256,600 shares of the company’s stock worth $33,030,000 after purchasing an additional 76,100 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Carvana during the second quarter valued at $51,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Price Performance

Shares of NYSE:CVNA opened at $169.78 on Friday. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $176.33. The stock has a market cap of $34.39 billion, a price-to-earnings ratio of 74.46 and a beta of 3.43. The stock’s 50 day moving average price is $146.68 and its 200 day moving average price is $118.57. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. Equities research analysts anticipate that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

CVNA has been the topic of a number of recent research reports. Wedbush upgraded shares of Carvana to a “neutral” rating and raised their price target for the stock from $120.00 to $150.00 in a research report on Monday, August 19th. BTIG Research raised their target price on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of Carvana in a report on Monday, September 9th. Stephens assumed coverage on Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $155.12.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 55,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the completion of the sale, the chief financial officer now directly owns 186,580 shares of the company’s stock, valued at $23,150,846.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the sale, the chief financial officer now directly owns 186,580 shares of the company’s stock, valued at $23,150,846.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Gill sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total value of $3,000,000.00. Following the completion of the transaction, the insider now owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. The disclosure for this sale can be found here. Insiders have sold 2,616,866 shares of company stock valued at $374,145,934 in the last quarter. Insiders own 17.12% of the company’s stock.

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.