US Bancorp DE Raises Holdings in Carvana Co. $CVNA

Key Points

• US Bancorp DE increased its holdings in Carvana Co. by 18.3%, now owning 6,419 shares valued at approximately $2.16 million as of its latest filing with the SEC.
• Insiders have recently sold a significant number of shares of Carvana, with over 1.7 million shares sold in the past 90 days, indicating possible shifts in confidence among company executives.
• Carvana reported a strong quarterly earnings performance, beating analysts' expectations with an EPS of $1.28 and revenues of $4.84 billion, marking a 41.9% increase compared to the same quarter last year.

US Bancorp DE grew its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 18.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,419 shares of the company's stock after purchasing an additional 994 shares during the quarter. US Bancorp DE's holdings in Carvana were worth $2,163,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CVNA. Hilltop National Bank purchased a new position in shares of Carvana during the second quarter worth about $25,000. Brooklyn Investment Group grew its holdings in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after purchasing an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Carvana during the first quarter worth about $33,000. SJS Investment Consulting Inc. grew its holdings in shares of Carvana by 960.0% during the second 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 last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Activity at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $398.00, for a total transaction of $5,970,000.00. Following the completion of the sale, the insider directly owned 81,716 shares in the company, valued at approximately $32,522,968. This trade represents a 15.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total transaction of $390,140.00. Following the sale, the vice president owned 43,513 shares of the company's stock, valued at approximately $16,976,161.82. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,728,292 shares of company stock worth $625,866,907. 17.12% of the stock is currently owned by company insiders.

Carvana Price Performance

Shares of NYSE:CVNA opened at $356.18 on Thursday. 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 market cap of $76.65 billion, a P/E ratio of 89.27, a PEG ratio of 1.12 and a beta of 3.55. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a 50-day moving average price of $364.65 and a 200 day moving average price of $317.51.

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

Analyst Ratings Changes

CVNA has been the topic of several research reports. Jefferies Financial Group set a $475.00 price objective on Carvana and gave the stock a "buy" rating in a report on Wednesday, October 1st. Evercore ISI increased their target price on shares of Carvana from $365.00 to $370.00 and gave the stock an "in-line" rating in a research note on Tuesday, August 12th. Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price for the company in a research note on Friday, July 25th. BTIG Research reiterated a "buy" rating and set a $450.00 target price on shares of Carvana in a research note on Friday, October 10th. Finally, Royal Bank Of Canada increased their target price on shares of Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given 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.

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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