Carvana Co. $CVNA Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. grew its position in Carvana Co. (NYSE:CVNA) by 46.5% during the second quarter, Holdings Channel.com reports. The firm owned 208 shares of the company’s stock after acquiring an additional 66 shares during the period. Harbour Investments Inc.’s holdings in Carvana were worth $70,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVNA. Price T Rowe Associates Inc. MD raised its holdings in shares of Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Carvana in the 1st quarter valued at $71,856,000. Contour Asset Management LLC raised its holdings in shares of Carvana by 71.4% in the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock valued at $134,462,000 after purchasing an additional 267,994 shares in the last quarter. Finally, National Pension Service acquired a new stake in shares of Carvana in the 1st quarter valued at $39,090,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVNA shares. Royal Bank Of Canada lifted their price target on shares of Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Stephens reiterated an “overweight” rating and set a $440.00 price target on shares of Carvana in a research note on Tuesday, September 23rd. Wells Fargo & Company lifted their price target on shares of Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Needham & Company LLC lifted their price target on shares of Carvana from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, Jefferies Financial Group set a $475.00 price target on shares of Carvana and gave the stock a “buy” rating in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $419.94.

Carvana Trading Up 4.3%

NYSE CVNA opened at $340.80 on Friday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The firm has a market cap of $73.34 billion, a PE ratio of 85.41, a P/E/G ratio of 1.05 and a beta of 3.55. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The firm’s fifty day moving average is $363.65 and its two-hundred day moving average is $323.58.

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

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total value of $4,963,192.50. Following the sale, the chief financial officer owned 207,362 shares of the company’s stock, valued at $80,719,805.74. The trade was a 5.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $398.00, for a total transaction of $5,970,000.00. Following the completion of the sale, the insider directly owned 81,716 shares in the company, valued at approximately $32,522,968. The trade was a 15.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,498,292 shares of company stock valued at $547,914,707. Corporate insiders own 17.12% of the company’s stock.

About Carvana

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.