Northwestern Mutual Wealth Management Co. Raises Holdings in Carvana Co. $CVNA

Northwestern Mutual Wealth Management Co. increased its position in shares of Carvana Co. (NYSE:CVNA) by 561.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,014 shares of the company’s stock after purchasing an additional 12,744 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Carvana were worth $988,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Carvana by 93.7% during the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after purchasing an additional 2,764,759 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Carvana by 345.8% during 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 worth $218,867,000 after acquiring an additional 2,579,295 shares during the period. Capital Research Global Investors increased its holdings in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after buying an additional 1,711,144 shares during the last quarter. Bank of America Corp DE raised its position in Carvana by 372.0% in the second quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock valued at $117,939,000 after purchasing an additional 1,412,188 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of 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 purchasing an additional 1,407,762 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Mark Jenkins sold 63,750 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $4,561,312.50. Following the sale, the chief financial officer directly owned 1,149,518 shares in the company, valued at $82,248,012.90. This represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Platt sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,132,500.00. Following the sale, the director directly owned 186,470 shares in the company, valued at $14,078,485. This represents a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 420,897 shares of company stock worth $28,914,626 in the last quarter. 15.19% of the stock is currently owned by corporate insiders.

Carvana Stock Up 1.7%

CVNA stock opened at $74.65 on Friday. The company has a fifty day moving average price of $68.89 and a 200 day moving average price of $68.31. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The company has a market cap of $82.15 billion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 2.18 and a beta of 3.49.

Carvana (NYSE:CVNA) last announced its quarterly earnings data 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 company had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. Carvana’s revenue was up 52.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 EPS. Sell-side analysts expect that Carvana Co. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

CVNA has been the subject of several research analyst reports. Hovde Group increased their target price on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 4th. Argus decreased their price target on shares of Carvana from $500.00 to $100.00 in a research note on Monday, May 11th. Citigroup reissued a “market outperform” rating on shares of Carvana in a research report on Monday, August 31st. BTIG Research reaffirmed a “buy” rating and set a $87.00 price objective on shares of Carvana in a research report on Tuesday, August 18th. Finally, UBS Group reaffirmed a “buy” rating and set a $83.00 price target on shares of Carvana in a report on Friday, July 31st. 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’s stock. Based on data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and an average price target of $84.14.

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.