Sumitomo Mitsui Trust Group Inc. Purchases 2,359 Shares of Carvana Co. $CVNA

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Carvana Co. (NYSE:CVNA) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 278,033 shares of the company’s stock after acquiring an additional 2,359 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Carvana were worth $104,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada grew its stake in Carvana by 40.8% during the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after purchasing an additional 8,654 shares during the period. Geneos Wealth Management Inc. lifted its stake in Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after buying an additional 181 shares during the period. Strs Ohio bought a new position in shares of Carvana during the 1st quarter worth approximately $852,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Carvana by 273.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,986 shares of the company’s stock worth $1,006,000 after buying an additional 2,186 shares during the period. Finally, Parkside Advisors LLC acquired a new stake in shares of Carvana during the 2nd quarter worth approximately $248,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVNA. Argus started coverage on shares of Carvana in a research report on Monday, December 15th. They set a “buy” rating and a $500.00 target price on the stock. Bank of America lifted their price target on shares of Carvana from $455.00 to $515.00 and gave the company a “buy” rating in a research note on Tuesday. Wedbush increased their price objective on shares of Carvana from $400.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Carvana in a research note on Tuesday. Finally, Wall Street Zen lowered Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $453.86.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 40,000 shares of Carvana stock in a transaction on Monday, December 8th. The stock was sold at an average price of $439.50, for a total transaction of $17,580,000.00. Following the sale, the chief operating officer directly owned 100,758 shares in the company, valued at $44,283,141. The trade was a 28.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael E. Maroone sold 30,928 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total transaction of $12,381,715.52. Following the completion of the transaction, the director directly owned 143,573 shares in the company, valued at $57,478,014.82. This trade represents a 17.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 467,626 shares of company stock worth $192,090,109. Company insiders own 16.36% of the company’s stock.

Carvana Stock Up 0.8%

Shares of NYSE CVNA opened at $468.25 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The company has a 50-day moving average price of $397.36 and a 200-day moving average price of $370.00. The stock has a market capitalization of $101.86 billion, a P/E ratio of 106.91, a P/E/G ratio of 1.12 and a beta of 3.54. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $485.33.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.26). The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The business’s revenue was up 54.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. On average, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Carvana Company 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.