Treasurer of the State of North Carolina acquired a new position in shares of Carvana Co (NYSE:CVNA) during the 2nd quarter, Holdings Channel reports. The firm acquired 15,900 shares of the company’s stock, valued at approximately $995,000.
Several other institutional investors have also recently added to or reduced their stakes in CVNA. United Services Automobile Association grew its stake in Carvana by 36.9% in the 2nd quarter. United Services Automobile Association now owns 6,794 shares of the company’s stock valued at $425,000 after buying an additional 1,832 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Carvana in the 2nd quarter valued at about $9,013,000. Price T Rowe Associates Inc. MD acquired a new position in Carvana in the 2nd quarter valued at about $440,000. Cubist Systematic Strategies LLC grew its stake in Carvana by 4,296.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 26,376 shares of the company’s stock valued at $1,651,000 after buying an additional 25,776 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Carvana in the 2nd quarter valued at about $1,598,000. Institutional investors own 37.05% of the company’s stock.
In other news, Director Ira J. Platt sold 39,431 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $75.85, for a total transaction of $2,990,841.35. Following the completion of the sale, the director now owns 32,863 shares of the company’s stock, valued at approximately $2,492,658.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $80.06, for a total transaction of $3,202,400.00. Following the sale, the chief financial officer now directly owns 52,049 shares of the company’s stock, valued at approximately $4,167,042.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,361 shares of company stock valued at $13,054,526. 13.02% of the stock is currently owned by insiders.
NYSE CVNA opened at $72.26 on Friday. The company has a quick ratio of 1.40, a current ratio of 3.83 and a debt-to-equity ratio of 2.10. The company has a market capitalization of $10.92 billion, a P/E ratio of -41.77 and a beta of 2.17. Carvana Co has a 12-month low of $28.44 and a 12-month high of $85.07. The firm has a 50-day moving average price of $75.54 and a two-hundred day moving average price of $67.62.
Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.01). The business had revenue of $986.22 million during the quarter, compared to the consensus estimate of $914.50 million. Carvana had a negative net margin of 3.49% and a negative return on equity of 30.55%. The business’s revenue for the quarter was up 107.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.37) EPS. Equities analysts expect that Carvana Co will post -1.82 EPS for the current year.
A number of research analysts recently commented on CVNA shares. ValuEngine lowered shares of Carvana from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. BMO Capital Markets upped their price target on shares of Carvana from $65.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, August 8th. Wells Fargo & Co reissued a “buy” rating and issued a $85.00 price objective on shares of Carvana in a report on Monday, July 1st. Cowen reissued an “outperform” rating and issued a $85.00 price objective (up previously from $81.00) on shares of Carvana in a report on Thursday, August 8th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $30.00 price objective (up previously from $22.00) on shares of Carvana in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $77.50.
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.
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