737 Shares in Carvana Co. $CVNA Acquired by USA Financial Formulas

Key Points

• USA Financial Formulas acquired 737 shares of Carvana Co. valued at approximately $248,000 in the 2nd quarter, marking a significant investment in the company.
• Carvana reported a net margin of 3.46% and a revenue of $4.84 billion for the last quarter, exceeding analysts' expectations.
• Insiders have sold a total of 2.3 million shares of Carvana stock worth nearly $828 million in the last three months, indicating significant insider activity.

USA Financial Formulas purchased a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 737 shares of the company's stock, valued at approximately $248,000.

Several other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the period. Vanguard Group Inc. lifted its stake in Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after acquiring an additional 1,109,476 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Carvana by 1.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company's stock valued at $144,835,000 after acquiring an additional 9,694 shares during the last quarter. Northern Trust Corp lifted its stake in Carvana by 5.4% in the first quarter. Northern Trust Corp now owns 685,864 shares of the company's stock valued at $143,400,000 after acquiring an additional 35,168 shares during the last quarter. Finally, Contour Asset Management LLC lifted its stake in shares of Carvana by 71.4% in the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company's stock worth $134,462,000 after buying an additional 267,994 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Down 0.2%

Shares of NYSE:CVNA opened at $394.49 on Friday. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The company's fifty day moving average is $363.74 and its 200-day moving average is $307.57. The company has a market capitalization of $84.89 billion, a PE ratio of 98.87, a P/E/G ratio of 1.30 and a beta of 3.55.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the company earned ($0.05) EPS. The firm's revenue for the quarter was up 41.9% compared to the same quarter last year. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 10,000 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total value of $3,892,700.00. Following the sale, the chief operating officer owned 103,197 shares in the company, valued at approximately $40,171,496.19. The trade was a 8.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul W. Breaux sold 15,000 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $398.00, for a total transaction of $5,970,000.00. Following the completion of the sale, the insider owned 81,716 shares in the company, valued at $32,522,968. This represents a 15.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,307,066 shares of company stock worth $827,792,454 in the last three months. Company insiders own 17.12% of the company's stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price objective on shares of Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $415.00 to $425.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 17th. Gordon Haskett began coverage on shares of Carvana in a research report on Monday, July 14th. They set a "hold" rating and a $329.00 target price on the stock. Evercore ISI boosted their target price on shares of Carvana from $365.00 to $370.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group set a $475.00 target price on shares of Carvana in a research report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $404.94.

About Carvana

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.

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