Allworth Financial LP Acquires 579 Shares of Carvana Co. $CVNA

Allworth Financial LP boosted its holdings in shares of Carvana Co. (NYSE:CVNA) by 104.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,131 shares of the company’s stock after purchasing an additional 579 shares during the quarter. Allworth Financial LP’s holdings in Carvana were worth $381,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Illinois Municipal Retirement Fund increased its holdings in shares of Carvana by 135.7% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 28,881 shares of the company’s stock worth $9,732,000 after buying an additional 16,626 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Carvana in the second quarter worth about $1,440,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Carvana by 3,691.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 189,551 shares of the company’s stock worth $63,871,000 after acquiring an additional 184,552 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Carvana by 9.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,099 shares of the company’s stock valued at $34,740,000 after purchasing an additional 8,865 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Carvana by 29.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 267 shares of the company’s stock valued at $90,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVNA. Oppenheimer raised Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price on the stock in a research report on Friday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 price objective on shares of Carvana in a research note on Thursday, October 30th. Morgan Stanley set a $450.00 price objective on shares of Carvana in a research report on Monday, October 20th. Wells Fargo & Company increased their target price on shares of Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, Citigroup lowered their target price on shares of Carvana from $490.00 to $445.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $414.16.

Carvana Stock Performance

Shares of Carvana stock opened at $318.27 on Monday. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The stock’s fifty day moving average price is $351.97 and its 200-day moving average price is $338.29. The firm has a market cap of $69.24 billion, a P/E ratio of 72.66, a P/E/G ratio of 1.15 and a beta of 3.50. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue was up 54.5% compared to the same quarter last year. On average, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $364.66, for a total value of $3,646,600.00. Following the transaction, the chief operating officer directly owned 104,416 shares in the company, valued at approximately $38,076,338.56. This trade represents a 8.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $375.00, for a total value of $5,625,000.00. Following the completion of the transaction, the insider directly owned 83,018 shares of the company’s stock, valued at approximately $31,131,750. The trade was a 15.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 426,452 shares of company stock valued at $154,720,683. 16.36% of the stock is currently owned by corporate insiders.

Carvana Company Profile

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.