Carvana Co. $CVNA Shares Bought by Czech National Bank

Key Points

• Czech National Bank increased its Carvana stake by 429.3% in the second quarter, acquiring 165,367 additional shares to hold 203,883 shares valued at approximately $13.42 million.
• Carvana exceeded quarterly expectations, reporting $0.42 in EPS versus $0.39 expected and $7.38 billion in revenue, up 52.4% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $84.14.
• Carvana shares opened at $70.83, with a market capitalization of roughly $77.95 billion. Insiders sold about 391,372 shares worth $26.6 million over the past 90 days, while institutional investors own 56.71% of the stock.

Czech National Bank boosted its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 429.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 203,883 shares of the company's stock after purchasing an additional 165,367 shares during the period. Czech National Bank's holdings in Carvana were worth $13,420,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ascentis Independent Advisors acquired a new stake in shares of Carvana during the first quarter worth $26,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Carvana in the 4th quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company's stock worth $30,000 after acquiring an additional 58 shares during the last quarter. Motiv8 Investments LLC purchased a new position in Carvana in the 4th quarter worth $33,000. Finally, Whipplewood Advisors LLC acquired a new stake in Carvana during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Price Performance

NYSE:CVNA opened at $70.83 on Friday. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The firm has a market cap of $77.95 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 2.62 and a beta of 3.46. The firm's fifty day moving average is $66.55 and its two-hundred day moving average is $69.82.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The firm's revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period last year, the firm earned $1.51 EPS. Research analysts expect that Carvana Co. will post 1.65 EPS for the current year.

Insider Transactions at Carvana

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $64.49, for a total value of $322,450.00. Following the completion of the transaction, the vice president directly owned 136,909 shares of the company's stock, valued at approximately $8,829,261.41. The trade was a 3.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $64.50, for a total value of $4,111,875.00. Following the completion of the sale, the chief financial officer owned 1,156,534 shares in the company, valued at approximately $74,596,443. This represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 391,372 shares of company stock valued at $26,555,789. 15.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CVNA shares. Robert W. Baird set a $72.00 price target on Carvana in a research note on Thursday, July 30th. Stephens raised their price objective on Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Barclays decreased their target price on Carvana from $94.00 to $93.00 and set an "overweight" rating for the company in a report on Friday, July 31st. JPMorgan Chase & Co. upped their target price on Carvana from $91.00 to $93.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company set a $80.00 price target on shares of Carvana and gave the stock an "overweight" rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and an average price target of $84.14.

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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