Price T Rowe Associates Inc. MD Increases Position in Carvana Co. $CVNA

Key Points

• Price T Rowe Associates Inc. increased its stake in Carvana Co. by 13.9%, now owning approximately 7.01% of the company, valued at over $3.12 billion.
• Brokerages have shown positive sentiment towards Carvana, with several issuing upgrades and price targets ranging from $290.00 to $460.00.
• Carvana reported a $1.28 EPS for the last quarter, exceeding expectations, with a 41.9% increase in revenue year-over-year, reaching $4.84 billion.

Price T Rowe Associates Inc. MD increased its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,950,011 shares of the company's stock after acquiring an additional 1,823,218 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 7.01% of Carvana worth $3,125,749,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. J.Safra Asset Management Corp increased its holdings in Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after purchasing an additional 1,982 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Carvana in the fourth quarter worth $51,091,000. Farther Finance Advisors LLC raised its stake in Carvana by 333.1% during the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock valued at $740,000 after buying an additional 2,678 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Carvana in the 4th quarter worth about $36,527,000. Finally, Brucke Financial Inc. acquired a new position in shares of Carvana in the 4th quarter valued at about $415,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVNA. Wedbush raised shares of Carvana to a "hold" rating in a report on Thursday, May 8th. 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 report on Friday, July 25th. Royal Bank Of Canada raised their price target on Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Bank of America upped their price objective on Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley raised their target price on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Carvana has a consensus rating of "Moderate Buy" and a consensus target price of $383.47.

Carvana Stock Performance

CVNA stock opened at $339.1620 on Thursday. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The company has a 50-day simple moving average of $338.48 and a 200 day simple moving average of $277.57. The company has a market capitalization of $72.99 billion, a P/E ratio of 85.00, a PEG ratio of 1.14 and a beta of 3.57.

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

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the transaction, the insider owned 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,036,140 shares of company stock valued at $1,057,170,571 in the last quarter. Insiders own 17.12% of the company's stock.

Carvana 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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