Sumitomo Mitsui Trust Group Inc. Has $92.89 Million Stock Holdings in Carvana Co. $CVNA

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Carvana Co. by 9.8% during the second quarter, bringing its total holdings to approximately $92.89 million with 275,674 shares after purchasing an additional 24,512 shares.
• Carvana has seen significant interest from institutional investors, with J.Safra Asset Management Corp increasing its holdings by 140.8% and Berkshire Capital Holdings Inc. significantly boosting its stake by over 632,200%.
• Recent insider trades include VP Stephen R. Palmer selling 1,000 shares and CEO Ernest C. Garcia III selling 2,880 shares, both demonstrating minor decreases in their respective holdings.

Sumitomo Mitsui Trust Group Inc. raised its position in Carvana Co. (NYSE:CVNA - Free Report) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,674 shares of the company's stock after purchasing an additional 24,512 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.13% of Carvana worth $92,891,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVNA. J.Safra Asset Management Corp increased its holdings in Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after buying an additional 1,982 shares during the last quarter. Berkshire Capital Holdings Inc. increased its stake in shares of Carvana by 632,200.0% during the 1st quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company's stock worth $13,220,000 after purchasing an additional 63,220 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Carvana by 1,791.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,591 shares of the company's stock valued at $542,000 after purchasing an additional 2,454 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in Carvana in the first quarter worth $359,000. Finally, Janney Montgomery Scott LLC acquired a new position in Carvana during the first quarter worth $204,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Carvana

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total value of $390,140.00. Following the sale, the vice president owned 43,513 shares of the company's stock, valued at $16,976,161.82. The trade was a 2.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ernest C. Garcia III sold 2,880 shares of the firm's stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $355.19, for a total transaction of $1,022,947.20. Following the transaction, the chief executive officer directly owned 350,000 shares of the company's stock, valued at $124,316,500. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,498,292 shares of company stock worth $547,914,707 in the last three months. Company insiders own 17.12% of the company's stock.

Carvana Stock Performance

NYSE:CVNA opened at $351.33 on Friday. The firm's 50-day moving average is $363.68 and its 200-day moving average is $325.82. The company has a market cap of $75.61 billion, a price-to-earnings ratio of 88.05, a PEG ratio of 1.12 and a beta of 3.55. 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 52-week low of $148.25 and a 52-week high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share 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 the consensus estimate of $4.54 billion. During the same period last year, the business earned ($0.05) earnings per share. The firm's revenue for the quarter was up 41.9% compared to the same quarter last year. Equities research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVNA shares. Citigroup reaffirmed a "buy" rating on shares of Carvana in a research report on Thursday, October 9th. Morgan Stanley set a $450.00 target price on Carvana in a research report on Monday, October 20th. Bank of America lifted their price target on shares of Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $500.00 price objective on shares of Carvana in a report on Friday. Finally, Stephens reiterated an "overweight" rating and issued a $440.00 target price on shares of Carvana in a report on Tuesday, September 23rd. One equities research 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, Carvana currently has a consensus rating of "Moderate Buy" and a consensus target price of $419.94.

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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