Rakuten Investment Management Inc. Boosts Holdings in Carvana Co. $CVNA

Rakuten Investment Management Inc. boosted its stake in Carvana Co. (NYSE:CVNA) by 447.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,967 shares of the company’s stock after acquiring an additional 92,316 shares during the period. Rakuten Investment Management Inc.’s holdings in Carvana were worth $7,198,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVNA. Sands Capital Management LLC grew its holdings in Carvana by 44.4% during the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock valued at $1,030,798,000 after purchasing an additional 751,019 shares during the period. Capricorn Fund Managers Ltd bought a new stake in shares of Carvana in the first quarter valued at $29,866,000. Gavilan Investment Partners LLC raised its stake in shares of Carvana by 24.6% in the fourth quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company’s stock valued at $36,294,000 after buying an additional 17,000 shares during the period. Swiss National Bank lifted its position in shares of Carvana by 9.9% during the 1st quarter. Swiss National Bank now owns 395,180 shares of the company’s stock valued at $124,237,000 after buying an additional 35,720 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Carvana by 239.6% during the 4th quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock valued at $93,748,000 after buying an additional 156,430 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CVNA shares. Weiss Ratings upgraded Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. UBS Group reiterated a “buy” rating and issued a $83.00 target price on shares of Carvana in a research note on Friday, July 31st. DA Davidson set a $67.00 price target on shares of Carvana in a research note on Thursday, July 30th. Evercore set a $75.00 price objective on shares of Carvana in a report on Thursday, July 30th. Finally, Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the company an “outperform” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.14.

Insiders Place Their Bets

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $68.55, for a total transaction of $3,427,500.00. Following the sale, the chief operating officer owned 458,755 shares in the company, valued at $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 available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 1,029,580 shares of the company’s stock, valued at $70,361,497.20. The trade was a 5.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 420,897 shares of company stock valued at $28,777,664 over the last quarter. Insiders own 15.19% of the company’s stock.

Carvana Price Performance

Shares of NYSE:CVNA opened at $74.24 on Friday. The company’s fifty day moving average price is $68.10 and its 200-day moving average price is $68.34. The firm has a market capitalization of $81.70 billion, a price-to-earnings ratio of 41.06, a PEG ratio of 2.69 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 company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.90 billion. During the same quarter last year, the company posted $1.51 EPS. The business’s quarterly revenue was up 52.4% on a year-over-year basis. On average, equities research analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Carvana Company Profile

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.