Carvana Co. $CVNA Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp raised its position in Carvana Co. (NYSE:CVNA) by 3,547.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,154 shares of the company’s stock after buying an additional 13,766 shares during the period. Fifth Third Bancorp’s holdings in Carvana were worth $4,450,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC grew its stake in Carvana by 6.8% in the first quarter. Sequoia Financial Advisors LLC now owns 3,739 shares of the company’s stock worth $1,175,000 after purchasing an additional 237 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Carvana by 6.3% during the first quarter. Hsbc Holdings PLC now owns 235,769 shares of the company’s stock worth $73,820,000 after acquiring an additional 14,042 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Carvana in the first quarter valued at approximately $36,000. Resona Asset Management Co. Ltd. increased its stake in shares of Carvana by 4.1% in the first quarter. Resona Asset Management Co. Ltd. now owns 40,772 shares of the company’s stock valued at $12,634,000 after purchasing an additional 1,603 shares during the period. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of Carvana during the first quarter valued at approximately $326,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Price Performance

NYSE CVNA opened at $67.50 on Friday. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The stock has a market capitalization of $74.04 billion, a PE ratio of 41.06, a P/E/G ratio of 11.34 and a beta of 3.46. The stock has a 50-day simple moving average of $67.86 and a 200 day simple moving average of $72.29.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) 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 business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Research analysts anticipate that Carvana Co. will post 1.58 EPS for the current year.

Key Headlines Impacting Carvana

Here are the key news stories impacting Carvana this week:

• Negative Sentiment: Zacks Research downgraded Carvana (CVNA) from strong-buy to hold, a step that can dampen investor confidence. Article Title
• Negative Sentiment: Analysts lowered earnings estimates for several upcoming periods, including FY2027 and FY2028, suggesting expectations for slower profit growth than previously projected. Article Title
• Neutral Sentiment: Despite the cuts, Zacks still expects Carvana to remain profitable, with consensus full-year earnings estimated at $1.58 per share and longer-term EPS forecasts still pointing higher. Article Title

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVNA. UBS Group reaffirmed a “buy” rating and issued a $104.00 price objective (up from $97.00) on shares of Carvana in a report on Thursday, April 30th. Citigroup reiterated an “outperform” rating on shares of Carvana in a research report on Friday, May 1st. Morgan Stanley raised their price objective on Carvana from $90.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. BNP Paribas Exane lifted their target price on Carvana from $77.60 to $85.80 in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $107.40 target price on shares of Carvana in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $92.92.

Insiders Place Their Bets

In other news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $76.99, for a total transaction of $3,849,600.00. Following the completion of the transaction, the chief operating officer directly owned 529,810 shares of the company’s stock, valued at approximately $40,791,131.52. This trade represents a 8.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the sale, the director owned 186,470 shares in the company, valued at approximately $12,648,260.10. This trade represents a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 396,962 shares of company stock valued at $28,525,088 in the last ninety days. 15.19% of the stock is currently owned by insiders.

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.