Carvana Co. $CVNA Shares Acquired by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Carvana Co. by 13.3% during the second quarter, now holding 15,030 shares valued at approximately $5 million.
• Carvana's stock saw a 2.9% increase, with its current trading price around $338.77 and a market capitalization of $72.90 billion.
• The company reported $1.28 EPS for the last quarter, surpassing analyst expectations, and its revenue increased by 41.9% year-over-year.

Vanguard Personalized Indexing Management LLC increased its stake in Carvana Co. (NYSE:CVNA - Free Report) by 13.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,030 shares of the company's stock after acquiring an additional 1,769 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Carvana were worth $5,065,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of 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 in the last quarter. Northern Trust Corp raised 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 buying an additional 35,168 shares in the last quarter. Finally, Contour Asset Management LLC raised its stake in Carvana by 71.4% in the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company's stock valued at $134,462,000 after buying an additional 267,994 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Up 2.9%

CVNA opened at $338.77 on Tuesday. The business's 50-day simple moving average is $364.73 and its 200-day simple moving average is $317.04. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The stock has a market capitalization of $72.90 billion, a P/E ratio of 84.91, a price-to-earnings-growth ratio of 1.07 and a beta of 3.55.

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

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 12,750 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total transaction of $4,963,192.50. Following the transaction, the chief financial officer owned 207,362 shares of the company's stock, valued at $80,719,805.74. This trade represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Stephen R. Palmer sold 1,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $390.14, for a total value of $390,140.00. Following the transaction, the vice president directly owned 43,513 shares in the company, valued at approximately $16,976,161.82. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,838,292 shares of company stock valued at $664,602,807. 16.36% of the stock is owned by insiders.

Analyst Ratings Changes

CVNA has been the topic of a number of analyst reports. Gordon Haskett initiated coverage on Carvana in a research note on Monday, July 14th. They issued a "hold" rating and a $329.00 price target on the stock. Oppenheimer upgraded Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target on the stock in a research note on Friday, July 25th. Evercore ISI raised their price target on Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a research note on Tuesday, August 12th. Wells Fargo & Company raised their price target on Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Bank of America raised their price target on Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $407.44.

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.

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