24,711 Carvana Co. $CVNA Shares Purchased by Royal Fund Management LLC

Royal Fund Management LLC raised its holdings in shares of Carvana Co. (NYSE:CVNA) by 35.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,711 shares of the company’s stock after purchasing an additional 24,711 shares during the period. Royal Fund Management LLC’s holdings in Carvana were worth $5,896,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new stake in shares of Carvana during the first quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Carvana in the 1st quarter worth about $36,000. Leonteq Securities AG boosted its holdings in shares of Carvana by 106.8% in the 1st quarter. Leonteq Securities AG now owns 122 shares of the company’s stock valued at $38,000 after buying an additional 1,912 shares during the period. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of Carvana by 29.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 183 shares of the company’s stock valued at $58,000 after buying an additional 42 shares during the period. Institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In related news, VP Stephen Palmer sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $61.64, for a total transaction of $308,200.00. Following the completion of the transaction, the vice president owned 120,865 shares of the company’s stock, valued at $7,450,118.60. This trade represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $75.00, for a total transaction of $1,089,375.00. Following the transaction, the director owned 214,960 shares of the company’s stock, valued at approximately $16,122,000. This trade represents a 6.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 358,161 shares of company stock valued at $24,164,285. 15.19% of the stock is currently owned by insiders.

Carvana Stock Down 0.8%

Shares of Carvana stock opened at $58.70 on Friday. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The business’s fifty day moving average price is $66.95 and its two-hundred day moving average price is $68.52. 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 capitalization of $64.60 billion, a P/E ratio of 32.74, a PEG ratio of 1.74 and a beta of 3.55.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.51 earnings per share. As a group, research analysts forecast that Carvana Co. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of recent research reports. Evercore set a $75.00 price objective on shares of Carvana in a research report on Thursday, July 30th. Barclays reiterated an “overweight” rating and set a $80.00 price objective (down from $93.00) on shares of Carvana in a research note on Tuesday, October 6th. Weiss Ratings cut shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. BNP Paribas Exane decreased their target price on Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. Finally, Stephens restated an “overweight” rating and issued a $83.00 target price (down from $91.50) on shares of Carvana in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.04.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.