Dimensional Fund Advisors LP Boosts Stock Position in Carvana Co. $CVNA

Dimensional Fund Advisors LP boosted its holdings in shares of Carvana Co. (NYSE:CVNA) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 604,729 shares of the company’s stock after purchasing an additional 57,040 shares during the period. Dimensional Fund Advisors LP’s holdings in Carvana were worth $190,009,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after acquiring an additional 1,407,762 shares during the period. Vanguard Group Inc. raised its holdings in Carvana by 24.7% in the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after purchasing an additional 3,328,115 shares in the last quarter. State Street Corp lifted its position in shares of Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after purchasing an additional 2,764,759 shares during the period. Capital Research Global Investors boosted its stake in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

NYSE CVNA opened at $60.43 on Friday. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The stock has a 50-day moving average of $66.99 and a 200 day moving average of $71.53. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The company has a market capitalization of $66.28 billion, a price-to-earnings ratio of 36.76, a PEG ratio of 13.51 and a beta of 3.46.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $1.37. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. On average, sell-side analysts forecast that Carvana Co. will post 1.63 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVNA shares. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price target on shares of Carvana in a research note on Friday, June 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Carvana in a report on Thursday, June 18th. Citizens Jmp raised their target price on Carvana from $92.00 to $103.00 and gave the company a “market outperform” rating in a research note on Friday, May 1st. Robert W. Baird set a $88.00 price target on Carvana in a research report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $107.40 price target on shares of Carvana in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.65.

Insider Activity

In related news, CFO Mark W. Jenkins sold 63,750 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $77.44, for a total transaction of $4,936,672.50. Following the completion of the transaction, the chief financial officer directly owned 1,050,635 shares in the company, valued at approximately $81,359,073.13. The trade was a 5.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Taira sold 5,597 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $67.15, for a total transaction of $375,838.55. Following the sale, the insider owned 315,075 shares in the company, valued at approximately $21,157,286.25. The trade was a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 396,962 shares of company stock worth $28,525,088. 15.19% of the stock is currently owned by corporate insiders.

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.