Two Sigma Securities LLC Acquires 9,603 Shares of Carvana Co. $CVNA

Two Sigma Securities LLC raised its holdings in shares of Carvana Co. (NYSE:CVNA) by 471.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 11,642 shares of the company’s stock after purchasing an additional 9,603 shares during the period. Two Sigma Securities LLC’s holdings in Carvana were worth $766,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVNA. Farmers & Merchants Investments Inc. bought a new position in shares of Carvana during the fourth quarter valued at approximately $29,000. Motiv8 Investments LLC purchased a new position in Carvana during the fourth quarter valued at approximately $33,000. Ascentis Independent Advisors bought a new position in Carvana in the first quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in Carvana by 152.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Carvana during the second quarter worth $38,000. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 63,750 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $64.50, for a total value of $4,111,875.00. Following the transaction, the chief financial officer directly owned 1,156,534 shares of the company’s stock, valued at $74,596,443. This represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $75.50, for a total value of $1,132,500.00. Following the completion of the transaction, the director owned 186,470 shares of the company’s stock, valued at $14,078,485. This trade represents a 7.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 302,147 shares of company stock valued at $20,418,064. Company insiders own 15.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley set a $90.00 target price on Carvana and gave the company an “overweight” rating in a research report on Thursday, July 30th. BTIG Research reissued a “buy” rating and issued a $87.00 price target on shares of Carvana in a research report on Tuesday, August 18th. Argus decreased their price objective on Carvana from $500.00 to $100.00 in a research note on Monday, May 11th. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group cut their target price on Carvana from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Carvana Stock Performance

Shares of Carvana stock opened at $71.94 on Wednesday. The company has a 50 day moving average price of $68.38 and a 200 day moving average price of $68.23. The firm has a market capitalization of $79.17 billion, a P/E ratio of 39.79, a PEG ratio of 2.12 and a beta of 3.46. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the firm earned $1.51 EPS. Carvana’s revenue was up 52.4% compared to the same quarter last year. Sell-side analysts expect that Carvana Co. will post 1.68 EPS for the current year.

About Carvana

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.