Carvana Co. $CVNA Shares Acquired by Neuberger Berman Group LLC

Neuberger Berman Group LLC increased its position in shares of Carvana Co. (NYSE:CVNA) by 53.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 263,924 shares of the company’s stock after buying an additional 91,771 shares during the quarter. Neuberger Berman Group LLC’s holdings in Carvana were worth $88,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CVNA. Warren Street Wealth Advisors LLC increased its stake in Carvana by 2.8% in the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock valued at $388,000 after purchasing an additional 31 shares during the period. MAI Capital Management lifted its holdings in shares of Carvana by 1.8% during the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock worth $592,000 after purchasing an additional 31 shares during the period. Kingsview Wealth Management LLC raised its position in Carvana by 1.2% during the 2nd quarter. Kingsview Wealth Management LLC now owns 4,611 shares of the company’s stock worth $1,554,000 after buying an additional 53 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Carvana by 5.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after acquiring an additional 60 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in Carvana by 29.6% in the second quarter. Parkside Financial Bank & Trust now owns 267 shares of the company’s stock valued at $90,000 after purchasing an additional 61 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CVNA. Citigroup dropped their target price on Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Wells Fargo & Company lifted their price target on Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $460.00 price objective on shares of Carvana in a report on Thursday, October 30th. Stephens reissued an “overweight” rating and issued a $440.00 target price on shares of Carvana in a report on Tuesday, September 23rd. Finally, Evercore ISI decreased their target price on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $420.70.

Insider Buying and Selling

In other news, Director Gregory B. Sullivan sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $340.00, for a total transaction of $850,000.00. Following the completion of the transaction, the director directly owned 39,428 shares of the company’s stock, valued at $13,405,520. This trade represents a 5.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $324.57, for a total value of $3,245,700.00. Following the completion of the sale, the chief operating officer directly owned 101,977 shares in the company, valued at approximately $33,098,674.89. The trade was a 8.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 356,452 shares of company stock valued at $129,993,132. 17.12% of the stock is owned by company insiders.

Carvana Stock Up 1.9%

Carvana stock opened at $358.04 on Friday. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The firm has a market capitalization of $77.89 billion, a price-to-earnings ratio of 81.74, a price-to-earnings-growth ratio of 1.29 and a beta of 3.50. The stock’s fifty day moving average is $345.53 and its two-hundred day moving average is $341.59. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.Carvana’s quarterly revenue was up 54.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Carvana Company Profile

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 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.