Carvana Co. (NYSE:CVNA) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 217.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 249,754 shares of the company's stock after buying an additional 171,053 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.12% of Carvana worth $53,095,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CVNA. Global Retirement Partners LLC boosted its position in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Carvana during the fourth quarter worth about $31,000. Transce3nd LLC acquired a new position in shares of Carvana in the fourth quarter worth about $48,000. Versant Capital Management Inc boosted its holdings in Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Carvana in the fourth quarter valued at about $75,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

Shares of NYSE CVNA traded up $5.19 during midday trading on Wednesday, hitting $343.45. The company's stock had a trading volume of 2,986,693 shares, compared to its average volume of 3,860,126. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $351.43. The firm's fifty day moving average price is $301.34 and its 200-day moving average price is $246.91. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The firm has a market cap of $73.55 billion, a P/E ratio of 120.51, a P/E/G ratio of 1.32 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the business posted $0.23 EPS. The company's quarterly revenue was up 38.3% on a year-over-year basis. On average, sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CVNA shares. Wedbush raised Carvana to a "hold" rating in a research report on Thursday, May 8th. Piper Sandler set a $340.00 price target on shares of Carvana and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Bank of America upped their price target on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Wall Street Zen lowered shares of Carvana from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Wells Fargo & Company boosted their target price on shares of Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $293.88.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 51,380 shares of Carvana stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $326.03, for a total value of $16,751,421.40. Following the completion of the transaction, the chief financial officer directly owned 162,079 shares of the company's stock, valued at approximately $52,842,616.37. The trade was a 24.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the transaction, the insider directly owned 37,092,317 shares of the company's stock, valued at $12,870,663,075.83. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,337,111 shares of company stock valued at $420,026,399. Corporate 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.