Private Trust Co. NA Invests $206,000 in Carvana Co. $CVNA

Private Trust Co. NA purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 612 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after acquiring an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Carvana by 1.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock worth $144,835,000 after acquiring an additional 9,694 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Carvana by 5.4% during the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock worth $143,400,000 after acquiring an additional 35,168 shares in the last quarter. Finally, Contour Asset Management LLC boosted its stake in shares of Carvana by 71.4% during the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock worth $134,462,000 after acquiring an additional 267,994 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CVNA shares. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Stephens reaffirmed an “overweight” rating and issued a $440.00 target price on shares of Carvana in a research note on Tuesday, September 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Carvana in a research note on Tuesday, October 14th. Evercore ISI upped their target price on Carvana from $365.00 to $370.00 and gave the company an “in-line” rating in a research note on Tuesday, August 12th. Finally, Needham & Company LLC upped their target price on Carvana from $340.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average target price of $419.94.

Carvana Trading Up 5.4%

Shares of CVNA opened at $355.87 on Wednesday. The stock has a fifty day moving average of $364.16 and a two-hundred day moving average of $322.35. 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 company has a market capitalization of $76.58 billion, a PE ratio of 89.19, a price-to-earnings-growth ratio of 1.10 and a beta of 3.55. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33.

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

Insider Buying and Selling at Carvana

In other news, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total transaction of $3,892,700.00. Following the completion of the sale, the chief operating officer directly owned 103,197 shares in the company, valued at $40,171,496.19. This represents a 8.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark W. Jenkins sold 12,750 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was 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 approximately $80,719,805.74. The trade was a 5.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,558,292 shares of company stock worth $567,999,107. 16.36% of the stock is currently owned by company insiders.

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.