HB Wealth Management LLC Has $1.25 Million Stock Position in Carvana Co. $CVNA

HB Wealth Management LLC increased its stake in Carvana Co. (NYSE:CVNA) by 373.5% during the second quarter, HoldingsChannel reports. The firm owned 18,926 shares of the company’s stock after acquiring an additional 14,929 shares during the period. HB Wealth Management LLC’s holdings in Carvana were worth $1,246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Saudi Central Bank boosted its holdings in shares of Carvana by 806.1% in the second quarter. Saudi Central Bank now owns 45,043 shares of the company’s stock worth $2,965,000 after buying an additional 40,072 shares during the period. Fund 1 Investments LLC acquired a new stake in shares of Carvana during the second quarter valued at approximately $3,126,000. AlphaGrep UK Ltd purchased a new stake in shares of Carvana in the 2nd quarter valued at approximately $554,000. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of Carvana in the 2nd quarter valued at approximately $6,876,000. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Carvana in the 2nd quarter valued at approximately $500,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity

In other Carvana news, Director Michael Maroone bought 25,000 shares of Carvana stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $61.80 per share, for a total transaction of $1,545,000.00. Following the completion of the purchase, the director directly owned 168,573 shares of the company’s stock, valued at $10,417,811.40. The trade was a 17.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $3,577,500.00. Following the completion of the sale, the chief operating officer directly owned 478,693 shares of the company’s stock, valued at $34,250,484.15. This represents a 9.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 400,775 shares of company stock valued at $27,522,038. 15.19% of the stock is currently owned by company insiders.

Carvana Stock Down 4.5%

CVNA opened at $70.10 on Friday. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The business has a 50-day moving average of $69.43 and a 200-day moving average of $68.42. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The company has a market capitalization of $77.15 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 2.11 and a beta of 3.49.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The firm’s revenue was up 52.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 EPS. Equities research analysts forecast that Carvana Co. will post 1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVNA. DA Davidson set a $67.00 target price on Carvana in a research report on Thursday, July 30th. Morgan Stanley set a $90.00 price target on Carvana and gave the company an “overweight” rating in a research report on Thursday, July 30th. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Citizens Jmp decreased their price objective on Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a research report on Thursday, July 30th. Finally, Evercore set a $75.00 target price on Carvana in a research note on Thursday, July 30th. One research 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. Based on data from MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.