Wilmington Savings Fund Society FSB Buys New Position in Carvana Co. (NYSE:CVNA)

Wilmington Savings Fund Society FSB bought a new stake in Carvana Co. (NYSE:CVNA) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,383 shares of the company’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVNA. FMR LLC raised its position in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying an additional 5,882,656 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Carvana in the 3rd quarter valued at approximately $162,953,000. Sylebra Capital LLC acquired a new stake in Carvana in the 2nd quarter valued at approximately $67,686,000. Senator Investment Group LP acquired a new stake in Carvana in the 2nd quarter valued at approximately $63,767,000. Finally, Driehaus Capital Management LLC raised its position in Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after buying an additional 323,153 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stephens started coverage on Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price on the stock. Wedbush boosted their price target on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Evercore ISI boosted their price target on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research report on Monday. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $222.71.

Carvana Stock Down 0.8 %

CVNA stock opened at $253.84 on Wednesday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The firm has a market capitalization of $52.70 billion, a PE ratio of 25,384.00 and a beta of 3.32. Carvana Co. has a 1-year low of $40.21 and a 1-year high of $268.34. The business’s 50 day simple moving average is $231.41 and its 200 day simple moving average is $171.52.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. As a group, research analysts anticipate that Carvana Co. will post 0.76 EPS for the current year.

Insider Activity at Carvana

In related news, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the sale, the insider now directly owns 151,029 shares in the company, valued at $37,440,089.10. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.46, for a total value of $16,846,000.00. Following the sale, the insider now owns 39,858,131 shares of the company’s stock, valued at approximately $6,714,500,748.26. The trade was a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,971,908 shares of company stock worth $379,874,785 in the last ninety days. 17.12% of the stock is owned by company 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.