Carvana Co. $CVNA Shares Acquired by RDST Capital LLC

RDST Capital LLC lifted its stake in shares of Carvana Co. (NYSE:CVNA) by 43.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 174,802 shares of the company’s stock after purchasing an additional 52,540 shares during the quarter. Carvana accounts for approximately 5.3% of RDST Capital LLC’s investment portfolio, making the stock its 13th biggest holding. RDST Capital LLC’s holdings in Carvana were worth $54,954,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ascentis Independent Advisors purchased a new position in Carvana in the 1st quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Carvana during the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. acquired a new stake in Carvana during the 4th quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in Carvana during the 4th quarter valued at about $33,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVNA shares. Gordon Haskett raised their price objective on Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Carvana in a research report on Thursday, June 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $92.00 price target on shares of Carvana in a report on Friday, June 12th. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Evercore lifted their price objective on shares of Carvana from $78.00 to $80.00 in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $92.65.

Carvana Price Performance

Shares of CVNA opened at $66.07 on Wednesday. The business’s 50-day moving average is $67.01 and its two-hundred day moving average is $71.21. The company has a market capitalization of $72.47 billion, a P/E ratio of 40.19, a P/E/G ratio of 14.37 and a beta of 3.46. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Research analysts predict that Carvana Co. will post 1.63 earnings per share for the current year.

Insider Activity

In related news, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the transaction, the director directly owned 186,470 shares in the company, valued at approximately $12,648,260.10. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Danforth Quayle sold 14,525 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total value of $1,016,750.00. Following the completion of the transaction, the director directly owned 214,960 shares of the company’s stock, valued at $15,047,200. The trade was a 6.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 396,962 shares of company stock valued at $28,525,088 over the last 90 days. Company insiders own 15.19% of the company’s stock.

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.