Rakuten Investment Management Inc. Makes New Investment in Carvana Co. $CVNA

Rakuten Investment Management Inc. bought a new position in shares of Carvana Co. (NYSE:CVNA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,767 shares of the company’s stock, valued at approximately $3,307,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Hilltop National Bank acquired a new stake in Carvana during the second quarter worth about $25,000. ORG Partners LLC grew its holdings in shares of Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after purchasing an additional 87 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Carvana during the 3rd quarter worth approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Carvana in the 2nd quarter worth approximately $38,000. Finally, LRI Investments LLC acquired a new position in Carvana during the 2nd quarter valued at approximately $42,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Price Performance

CVNA stock opened at $477.44 on Friday. Carvana Co. has a one year low of $148.25 and a one year high of $485.33. The firm has a 50-day moving average of $416.97 and a two-hundred day moving average of $375.02. The firm has a market capitalization of $103.86 billion, a PE ratio of 109.00, a P/E/G ratio of 1.09 and a beta of 3.54. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The firm 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%.The business’s revenue was up 54.5% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. On average, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $500.00 target price on shares of Carvana in a research note on Monday, November 17th. Jefferies Financial Group lifted their price objective on shares of Carvana from $475.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Evercore ISI boosted their target price on shares of Carvana from $420.00 to $425.00 and gave the company an “in-line” rating in a research note on Tuesday, December 23rd. BTIG Research raised their price target on shares of Carvana from $450.00 to $535.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. lifted their price target on Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $468.59.

Insider Activity at Carvana

In related news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $419.48, for a total value of $419,480.00. Following the completion of the sale, the vice president directly owned 38,744 shares of the company’s stock, valued at approximately $16,252,333.12. This represents a 2.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 40,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $475.24, for a total value of $19,009,600.00. Following the completion of the sale, the insider directly owned 191,106 shares of the company’s stock, valued at approximately $90,821,215.44. This represents a 17.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 467,626 shares of company stock worth $192,090,109. Insiders own 17.12% of the company’s stock.

Carvana Company 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.