Carvana Co. $CVNA Shares Purchased by Silvant Capital Management LLC

Silvant Capital Management LLC increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 51.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,589 shares of the company’s stock after purchasing an additional 6,312 shares during the period. Silvant Capital Management LLC’s holdings in Carvana were worth $7,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVNA. Federated Hermes Inc. boosted its stake in shares of Carvana by 124.9% in the third quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock worth $100,316,000 after buying an additional 147,683 shares during the last quarter. Hudson Bay Capital Management LP raised its position in Carvana by 158.0% during the second quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after acquiring an additional 10,090 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Carvana by 11.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock valued at $240,476,000 after acquiring an additional 64,424 shares during the period. Strs Ohio boosted its position in Carvana by 89.9% in the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock worth $14,243,000 after purchasing an additional 17,878 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Carvana by 14.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock worth $76,662,000 after purchasing an additional 24,129 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In related news, insider Daniel J. Gill sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the completion of the sale, the insider directly owned 191,106 shares in the company, valued at approximately $90,821,215.44. The trade was a 17.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 12,750 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $403.02, for a total value of $5,138,505.00. Following the completion of the transaction, the chief financial officer directly owned 204,036 shares of the company’s stock, valued at approximately $82,230,588.72. This represents a 5.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 132,621 shares of company stock valued at $59,163,610. 16.36% of the stock is owned by insiders.

Carvana Stock Down 3.0%

CVNA stock opened at $318.26 on Wednesday. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $486.89. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. The firm has a 50-day simple moving average of $395.11 and a 200-day simple moving average of $380.21. The stock has a market capitalization of $69.65 billion, a P/E ratio of 39.58 and a beta of 3.60.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $3.12. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period last year, the company posted $0.56 EPS. Carvana’s quarterly revenue was up 58.0% compared to the same quarter last year. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $500.00 target price on shares of Carvana in a research note on Thursday, February 19th. Argus upgraded shares of Carvana to a “strong-buy” rating in a research report on Tuesday, March 3rd. Citigroup lowered their target price on shares of Carvana from $550.00 to $465.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Evercore cut their price target on Carvana from $430.00 to $390.00 in a research note on Thursday, February 19th. Finally, Royal Bank Of Canada reduced their price target on Carvana from $500.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $440.59.

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.