Wedmont Private Capital Acquires 9,658 Shares of Carvana Co. $CVNA

Wedmont Private Capital lifted its stake in Carvana Co. (NYSE:CVNA) by 436.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,870 shares of the company’s stock after purchasing an additional 9,658 shares during the period. Wedmont Private Capital’s holdings in Carvana were worth $781,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp lifted its stake in Carvana by 93.7% in the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after buying an additional 2,764,759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Carvana by 345.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock valued at $218,867,000 after acquiring an additional 2,579,295 shares during the period. Capital Research Global Investors raised its position in shares of Carvana by 42.9% in 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 acquiring an additional 1,711,144 shares during the period. Bank of America Corp DE boosted its stake in Carvana by 372.0% during the 2nd quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock worth $117,939,000 after acquiring an additional 1,412,188 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Carvana by 8.6% during the 4th 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 last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Price Performance

Shares of NYSE CVNA opened at $73.49 on Thursday. The firm has a market cap of $80.87 billion, a PE ratio of 40.65, a PEG ratio of 2.15 and a beta of 3.49. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The company has a fifty day moving average price of $69.40 and a 200 day moving average price of $68.39.

Carvana (NYSE:CVNA) last released 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 firm had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS. Research analysts predict that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Hovde Group upped their target price on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. UBS Group reissued a “buy” rating and issued a $83.00 price target on shares of Carvana in a report on Friday, July 31st. Robert W. Baird set a $72.00 price objective on shares of Carvana in a research report on Thursday, July 30th. BNP Paribas Exane reduced their target price on Carvana from $86.00 to $69.00 and set a “hold” rating on the stock in a 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.14.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 63,750 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total value of $4,356,675.00. Following the sale, the chief financial officer owned 1,029,580 shares of the company’s stock, valued at $70,361,497.20. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin Huston sold 50,000 shares of Carvana stock in a transaction on Tuesday, September 1st. The shares were 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 owned 478,693 shares in the company, valued at $34,250,484.15. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 400,775 shares of company stock valued at $27,522,038 in the last 90 days. 15.19% of the stock is currently owned by corporate insiders.

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.