Carvana Co. $CVNA Shares Acquired by Czech National Bank

Czech National Bank lifted its holdings in Carvana Co. (NYSE:CVNA) by 429.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,883 shares of the company’s stock after purchasing an additional 165,367 shares during the period. Czech National Bank’s holdings in Carvana were worth $13,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in Carvana by 40.8% in the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after purchasing an additional 8,654 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after buying an additional 181 shares during the period. Cerity Partners LLC raised its stake in shares of Carvana by 28.8% during the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after buying an additional 1,226 shares during the period. AXA S.A. lifted its position in shares of Carvana by 340.7% during the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock valued at $1,433,000 after buying an additional 3,288 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Carvana by 9.1% during the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock valued at $3,334,000 after buying an additional 825 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael E. Maroone purchased 25,000 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was acquired at an average cost of $61.80 per share, for a total transaction of $1,545,000.00. Following the completion of the transaction, the director directly owned 168,573 shares of the company’s stock, valued at approximately $10,417,811.40. This trade represents a 17.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ira J. Platt sold 15,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the completion of the sale, the director directly owned 186,470 shares of the company’s stock, valued at approximately $12,648,260.10. This represents a 7.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 391,372 shares of company stock worth $26,555,789 in the last 90 days. Corporate insiders own 15.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group reissued a “buy” rating and issued a $83.00 price target on shares of Carvana in a report on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 target price on shares of Carvana in a research report on Thursday, July 30th. Barclays cut their target price on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Finally, BNP Paribas Exane reduced their price target on shares of Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.14.

Carvana Stock Up 3.6%

Shares of CVNA opened at $70.83 on Friday. The stock has a 50 day moving average price of $66.55 and a 200 day moving average price of $69.82. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The stock has a market capitalization of $77.95 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 2.62 and a beta of 3.46. Carvana Co. has a one year low of $54.46 and a one year high of $97.38.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.51 earnings per share. Equities research analysts forecast that Carvana Co. will post 1.65 earnings per share for the current fiscal year.

Carvana 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.