Massachusetts Financial Services Co. MA Has $240.48 Million Holdings in Carvana Co. $CVNA

Massachusetts Financial Services Co. MA lifted its stake in Carvana Co. (NYSE:CVNA) by 11.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 637,462 shares of the company’s stock after acquiring an additional 64,424 shares during the period. Massachusetts Financial Services Co. MA owned 0.30% of Carvana worth $240,476,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CVNA. Sands Capital Management LLC boosted its holdings in shares of Carvana by 1,374.3% during the 2nd quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock worth $303,677,000 after buying an additional 840,096 shares during the period. Norges Bank acquired a new position in Carvana during the 2nd quarter worth $259,468,000. Arrowstreet Capital Limited Partnership bought a new stake in Carvana during the second quarter valued at about $183,102,000. Invesco Ltd. grew its position in shares of Carvana by 231.8% in the second quarter. Invesco Ltd. now owns 734,436 shares of the company’s stock valued at $247,476,000 after purchasing an additional 513,092 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Carvana by 15.0% in the second quarter. State Street Corp now owns 2,765,046 shares of the company’s stock worth $931,710,000 after purchasing an additional 361,624 shares during the period. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Argus assumed coverage on Carvana in a report on Monday, December 15th. They issued a “buy” rating and a $500.00 target price on the stock. Citigroup raised their price objective on shares of Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Carvana in a research report on Thursday, January 8th. Wall Street Zen cut shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Finally, Evercore ISI raised their price target on shares of Carvana from $420.00 to $425.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 23rd. Nineteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $465.64.

Insider Buying and Selling at Carvana

In other Carvana news, insider Thomas Taira sold 1,174 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $447.00, for a total value of $524,778.00. Following the transaction, the insider directly owned 68,252 shares in the company, valued at approximately $30,508,644. This trade represents a 1.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 40,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $475.24, for a total value of $19,009,600.00. Following the sale, the insider owned 191,106 shares of the company’s stock, valued at approximately $90,821,215.44. The trade was a 17.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 467,626 shares of company stock valued at $192,090,109 over the last three months. Insiders own 16.36% of the company’s stock.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $443.34 on Tuesday. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $485.33. The firm has a market cap of $96.44 billion, a PE ratio of 101.22, a price-to-earnings-growth ratio of 1.06 and a beta of 3.54. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The business has a fifty day moving average of $408.95 and a 200-day moving average of $373.08.

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

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.