Blair William & Co. IL Reduces Stake in Carvana Co. $CVNA

Blair William & Co. IL reduced its position in Carvana Co. (NYSE:CVNA) by 19.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,168 shares of the company’s stock after selling 8,623 shares during the period. Blair William & Co. IL’s holdings in Carvana were worth $12,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE boosted its stake in shares of Carvana by 18.3% in the 2nd quarter. US Bancorp DE now owns 6,419 shares of the company’s stock worth $2,163,000 after buying an additional 994 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Carvana by 23.4% in the 2nd quarter. Maryland State Retirement & Pension System now owns 6,241 shares of the company’s stock worth $2,103,000 after buying an additional 1,184 shares during the last quarter. Valmark Advisers Inc. purchased a new position in shares of Carvana in the 2nd quarter worth $1,783,000. Independent Solutions Wealth Management LLC purchased a new position in shares of Carvana in the 2nd quarter worth $290,000. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Carvana by 13.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 44,100 shares of the company’s stock worth $14,860,000 after buying an additional 5,200 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Daniel J. Gill sold 80,000 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $398.91, for a total value of $31,912,800.00. Following the transaction, the insider directly owned 197,832 shares in the company, valued at $78,917,163.12. The trade was a 28.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $352.40, for a total value of $35,240,000.00. Following the completion of the transaction, the insider owned 35,892,792 shares in the company, valued at $12,648,619,900.80. The trade was a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,996,820 shares of company stock worth $719,703,146 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of Carvana stock opened at $330.58 on Friday. The stock’s 50-day simple moving average is $365.17 and its 200-day simple moving average is $314.56. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a market capitalization of $71.14 billion, a price-to-earnings ratio of 82.85, a PEG ratio of 1.18 and a beta of 3.55. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned ($0.05) earnings per share. The business’s revenue was up 41.9% on a year-over-year basis. As a group, analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVNA. JPMorgan Chase & Co. raised their price target on Carvana from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. Piper Sandler lifted their target price on Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Carvana in a research report on Saturday, September 27th. Finally, Gordon Haskett began coverage on Carvana in a research report on Monday, July 14th. They set a “hold” rating and a $329.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $407.44.

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.