Carvana Co. $CVNA Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Carvana by 32%, selling 80,004 shares and owning approximately 0.08% of the company worth $57.42 million.
• Carvana's stock has experienced significant fluctuations, with a 1-year high of $413.33 and a low of $148.25, reflecting its current market cap of $74.52 billion.
• The company reported $1.28 earnings per share (EPS) for the last quarter, surpassing estimates, and has analysts projecting an average EPS of 2.85 for the current fiscal year.

Allspring Global Investments Holdings LLC decreased its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 32.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 169,750 shares of the company's stock after selling 80,004 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Carvana worth $57,420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVNA. Hilltop National Bank acquired a new position in Carvana during the 2nd quarter worth approximately $25,000. Brooklyn Investment Group increased its position in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after purchasing an additional 125 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Carvana during the 1st quarter worth approximately $33,000. SJS Investment Consulting Inc. increased its position in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 96 shares during the period. Finally, LRI Investments LLC acquired a new position in Carvana during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Price Performance

CVNA stock opened at $346.30 on Wednesday. Carvana Co. has a 1 year low of $148.25 and a 1 year 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 stock's 50 day moving average price is $364.63 and its 200 day moving average price is $317.24. The firm has a market cap of $74.52 billion, a P/E ratio of 86.79, a PEG ratio of 1.10 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the company earned ($0.05) EPS. Carvana's revenue was up 41.9% on a year-over-year basis. On average, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JMP Securities boosted their price target on Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. BTIG Research reissued a "buy" rating and set a $450.00 price target on shares of Carvana in a research note on Friday, October 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of Carvana in a research note on Tuesday. Jefferies Financial Group set a $475.00 price target on Carvana and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada boosted their price target on Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $407.44.

Insider Buying and Selling

In other Carvana news, CEO Ernest C. Garcia III sold 2,880 shares of the business's stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $355.19, for a total value of $1,022,947.20. Following the completion of the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $124,316,500. The trade was a 0.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 value of $5,970,000.00. Following the completion of the transaction, the insider owned 81,716 shares of the company's stock, valued at $32,522,968. This trade represents a 15.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,738,292 shares of company stock worth $629,362,807 in the last quarter. Corporate insiders own 16.36% 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.

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