Allstate Corp Purchases Shares of 4,288 Carvana Co. $CVNA

Allstate Corp acquired a new position in Carvana Co. (NYSE:CVNA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,288 shares of the company’s stock, valued at approximately $1,618,000.

Several other large investors have also bought and sold shares of CVNA. Royal Bank of Canada boosted its holdings in shares of Carvana by 40.8% in the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after buying an additional 8,654 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after purchasing an additional 181 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Carvana by 82.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,533 shares of the company’s stock worth $1,579,000 after purchasing an additional 2,051 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Carvana by 519.2% in the 2nd quarter. UMB Bank n.a. now owns 322 shares of the company’s stock valued at $109,000 after acquiring an additional 270 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Carvana by 38.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,811 shares of the company’s stock worth $1,621,000 after acquiring an additional 1,329 shares during the period. Institutional investors own 56.71% of the company’s stock.

Insider Activity at Carvana

In related news, insider Thomas Taira sold 30,952 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $435.96, for a total transaction of $13,493,833.92. Following the transaction, the insider directly owned 69,880 shares in the company, valued at approximately $30,464,884.80. The trade was a 30.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Maroone sold 30,928 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $400.34, for a total value of $12,381,715.52. Following the completion of the sale, the director directly owned 143,573 shares of the company’s stock, valued at approximately $57,478,014.82. The trade was a 17.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 467,626 shares of company stock worth $192,090,109. Corporate insiders own 16.36% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of research reports. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Wedbush upped their price target on shares of Carvana from $400.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, December 19th. UBS Group raised their price target on Carvana from $450.00 to $545.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. BTIG Research lifted their target price on shares of Carvana from $450.00 to $535.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Finally, Gordon Haskett decreased their target price on Carvana from $445.00 to $435.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Nineteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $465.64.

Carvana Stock Performance

Shares of CVNA opened at $441.71 on Wednesday. The firm has a market cap of $96.09 billion, a P/E ratio of 100.85, a PEG ratio of 1.06 and a beta of 3.54. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $485.33. 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 firm’s 50 day moving average price is $411.25 and its two-hundred day moving average price is $373.74.

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