Carvana Co. $CVNA Shares Acquired by Parkwood LLC

Parkwood LLC increased its stake in Carvana Co. (NYSE:CVNA) by 3,147.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,000 shares of the company’s stock after acquiring an additional 134,720 shares during the period. Parkwood LLC’s holdings in Carvana were worth $9,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new position in shares of Carvana during the 1st quarter valued at $26,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Carvana in the fourth quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. Motiv8 Investments LLC bought a new position in Carvana during the fourth quarter valued at about $33,000. Finally, GoalVest Advisory LLC grew its holdings in Carvana by 400.0% during the second quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock worth $33,000 after acquiring an additional 400 shares during the period. Institutional investors own 56.71% of the company’s stock.

Carvana Trading Down 2.7%

CVNA stock opened at $73.70 on Thursday. 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 stock has a market capitalization of $81.10 billion, a price-to-earnings ratio of 40.76, a P/E/G ratio of 2.75 and a beta of 3.46. The business has a fifty day moving average price of $67.80 and a 200 day moving average price of $68.40. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The company’s revenue was up 52.4% on a year-over-year basis. Analysts expect that Carvana Co. will post 1.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.55, for a total value of $3,427,500.00. Following the sale, the chief operating officer directly owned 458,755 shares in the company, valued at approximately $31,447,655.25. This trade represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total value of $4,356,675.00. Following the sale, the chief financial officer directly owned 1,029,580 shares in the company, valued at $70,361,497.20. The trade was a 5.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 420,897 shares of company stock worth $28,777,664 over the last three months. Insiders own 15.19% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the topic of several analyst reports. Gordon Haskett lifted their target price on shares of Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Hovde Group lifted their target price on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. Robert W. Baird set a $72.00 price objective on shares of Carvana in a research report on Thursday, July 30th. Royal Bank Of Canada set a $82.00 target price on Carvana and gave the company an “outperform” rating in a report on Thursday, July 30th. Finally, BNP Paribas Exane dropped their target price on shares of Carvana from $86.00 to $69.00 and set a “hold” rating on the stock in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

About Carvana

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.