Dimensional Fund Advisors LP Boosts Position in Carvana Co. $CVNA

Dimensional Fund Advisors LP boosted its position in shares of Carvana Co. (NYSE:CVNA) by 10.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 604,729 shares of the company’s stock after acquiring an additional 57,040 shares during the period. Dimensional Fund Advisors LP owned 0.28% of Carvana worth $190,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Carvana by 40.8% during the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after purchasing an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after buying an additional 181 shares during the period. Cerity Partners LLC boosted its stake in Carvana by 28.8% during the second quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock valued at $1,847,000 after buying an additional 1,226 shares during the period. AXA S.A. grew its position in Carvana by 340.7% during the second quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after buying an additional 3,288 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Carvana by 9.1% during the second quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after buying an additional 825 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Activity

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

Carvana Stock Up 0.4%

Shares of NYSE CVNA opened at $60.43 on Friday. The stock has a market capitalization of $66.28 billion, a P/E ratio of 36.76, a PEG ratio of 13.51 and a beta of 3.46. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The firm’s 50 day simple moving average is $66.99 and its two-hundred day simple moving average is $71.53. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.12 billion. As a group, analysts expect that Carvana Co. will post 1.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on CVNA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of Carvana in a report on Friday, June 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Carvana in a research report on Thursday, June 18th. Evercore raised their target price on shares of Carvana from $78.00 to $80.00 in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $107.40 target price on shares of Carvana in a research report on Thursday, April 30th. Finally, Bank of America boosted their price target on shares of Carvana from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.65.

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.