Silvant Capital Management LLC Boosts Stake in Carvana Co. $CVNA

Silvant Capital Management LLC increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 51.4% during the third quarter, HoldingsChannel.com reports. The fund owned 18,589 shares of the company’s stock after buying an additional 6,312 shares during the period. Silvant Capital Management LLC’s holdings in Carvana were worth $7,013,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CVNA. Federated Hermes Inc. lifted its stake in Carvana by 124.9% in the 3rd quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock worth $100,316,000 after purchasing an additional 147,683 shares in the last quarter. Hudson Bay Capital Management LP grew its position in shares of Carvana by 158.0% in the second quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after purchasing an additional 10,090 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 purchasing an additional 64,424 shares during the last quarter. Strs Ohio increased its holdings in shares of Carvana by 89.9% in the third quarter. Strs Ohio now owns 37,756 shares of the company’s stock valued at $14,243,000 after purchasing an additional 17,878 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Carvana by 14.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock worth $76,662,000 after buying an additional 24,129 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In related news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $393.04, for a total transaction of $393,040.00. Following the completion of the transaction, the vice president owned 37,192 shares of the company’s stock, valued at approximately $14,617,943.68. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J Danforth Quayle sold 2,900 shares of Carvana stock in a transaction on Monday, March 9th. The shares were sold at an average price of $309.97, for a total value of $898,913.00. Following the completion of the sale, the director directly owned 41,913 shares of the company’s stock, valued at $12,991,772.61. The trade was a 6.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 132,621 shares of company stock valued at $59,163,610. 16.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BTIG Research lowered their price objective on Carvana from $535.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Evercore reduced their price target on Carvana from $430.00 to $390.00 in a report on Thursday, February 19th. Argus raised shares of Carvana to a “strong-buy” rating in a research report on Tuesday, March 3rd. Wells Fargo & Company dropped their price objective on shares of Carvana from $525.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Finally, Bank of America cut their price objective on shares of Carvana from $460.00 to $400.00 and set a “buy” rating for the company in a research 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $440.59.

Carvana Stock Performance

Shares of Carvana stock opened at $318.26 on Wednesday. The business’s fifty day simple moving average is $395.11 and its 200-day simple moving average is $380.21. 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 market cap of $69.65 billion, a PE ratio of 39.58 and a beta of 3.60. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $486.89.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the firm earned $0.56 EPS. Carvana’s revenue was up 58.0% on a year-over-year basis. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current 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.