Dimensional Fund Advisors LP Grows Position in Carvana Co. (NYSE:CVNA)

Dimensional Fund Advisors LP raised its stake in Carvana Co. (NYSE:CVNA) by 20.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 353,664 shares of the company’s stock after purchasing an additional 59,482 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Carvana were worth $45,556,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its position in Carvana by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 33,805 shares of the company’s stock valued at $4,351,000 after buying an additional 1,136 shares during the last quarter. Plato Investment Management Ltd lifted its position in Carvana by 66.0% in the second quarter. Plato Investment Management Ltd now owns 1,036 shares of the company’s stock valued at $133,000 after buying an additional 412 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Carvana by 155.7% in the second quarter. Envestnet Asset Management Inc. now owns 23,278 shares of the company’s stock valued at $2,996,000 after buying an additional 14,174 shares during the last quarter. Federated Hermes Inc. lifted its position in Carvana by 74.3% in the second quarter. Federated Hermes Inc. now owns 98,686 shares of the company’s stock valued at $12,703,000 after buying an additional 42,055 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Carvana by 2.6% in the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after buying an additional 241 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $127.09, for a total transaction of $9,531,750.00. Following the transaction, the insider now owns 412,500 shares of the company’s stock, valued at $52,424,625. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $127.09, for a total value of $9,531,750.00. Following the transaction, the insider now directly owns 412,500 shares in the company, valued at $52,424,625. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $145.00, for a total transaction of $2,175,000.00. Following the sale, the insider now owns 114,124 shares of the company’s stock, valued at approximately $16,547,980. The disclosure for this sale can be found here. Insiders sold a total of 2,486,866 shares of company stock valued at $357,967,534 in the last three months. 17.12% of the stock is currently owned by company insiders.

Carvana Stock Down 0.8 %

CVNA stock opened at $169.78 on Monday. The stock has a market cap of $34.39 billion, a P/E ratio of 74.46 and a beta of 3.43. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $176.33. The company’s 50 day moving average is $146.68 and its two-hundred day moving average is $118.84.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Research analysts expect that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CVNA. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $77.00 to $175.00 in a research report on Thursday, August 1st. BTIG Research increased their price target on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC increased their price target on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Piper Sandler increased their price target on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $155.12.

Carvana 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.