Capital World Investors Purchases 180,185 Shares of Carvana Co. $CVNA

Key Points

• Capital World Investors boosted its stake in Carvana by 28.8%, buying 180,185 shares to hold 806,243 shares worth $304.15 million (about 0.37% of the company) as of the latest 13F filing.
• Company insiders have been net sellers recently—125,101 shares worth $55.45 million were sold in the past three months—though insiders still own 17.12% of Carvana.
• Carvana posted a strong quarter, beating estimates with EPS $4.22 versus $1.10 expected and $5.60 billion in revenue, and analysts carry a consensus rating of "Moderate Buy" with a $440.59 average price target.

Capital World Investors boosted its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 28.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 806,243 shares of the company's stock after acquiring an additional 180,185 shares during the period. Capital World Investors owned 0.37% of Carvana worth $304,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CVNA. ORG Partners LLC grew its holdings in Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company's stock worth $33,000 after purchasing an additional 87 shares during the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Carvana during the 3rd quarter valued at $38,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Carvana during the 3rd quarter valued at $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Carvana in the 2nd quarter worth $38,000. Finally, SJS Investment Consulting Inc. boosted its position in shares of Carvana by 28.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company's stock worth $51,000 after purchasing an additional 30 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carvana

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $393.04, for a total transaction of $393,040.00. Following the completion of the transaction, the vice president owned 37,192 shares in the company, valued at approximately $14,617,943.68. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas Taira sold 953 shares of the business's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $325.00, for a total value of $309,725.00. Following the completion of the transaction, the insider directly owned 64,997 shares of the company's stock, valued at approximately $21,124,025. This trade represents a 1.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 125,101 shares of company stock worth $55,448,660 in the last three months. Company insiders own 17.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings raised Carvana from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, February 19th. Royal Bank Of Canada lowered their price target on Carvana from $500.00 to $440.00 and set an "outperform" rating for the company in a report on Thursday, February 19th. Morgan Stanley restated an "overweight" rating on shares of Carvana in a report on Thursday, January 8th. BTIG Research decreased their price objective on shares of Carvana from $535.00 to $455.00 and set a "buy" rating for the company in a research report on Thursday, February 19th. Finally, UBS Group set a $485.00 price objective on shares of Carvana in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $440.59.

Carvana Stock Down 2.9%

CVNA stock opened at $309.49 on Thursday. The company has a market capitalization of $67.73 billion, a P/E ratio of 38.49 and a beta of 3.60. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $486.89. The firm's fifty day simple moving average is $392.86 and its 200-day simple moving average is $379.72. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $3.12. The firm had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The firm's revenue was up 58.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. As a group, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

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