Carvana Co. $CVNA Shares Sold by Westpac Banking Corp

by · The Markets Daily

Westpac Banking Corp cut its stake in Carvana Co. (NYSE:CVNA – Free Report) by 44.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,882 shares of the company’s stock after selling 3,908 shares during the period. Westpac Banking Corp’s holdings in Carvana were worth $1,645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares during the period. Vanguard Group Inc. boosted its stake in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Carvana by 11.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock worth $750,301,000 after acquiring an additional 221,161 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Carvana by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock worth $144,835,000 after acquiring an additional 9,694 shares during the period. Finally, Northern Trust Corp increased its stake in Carvana by 5.4% in the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock valued at $143,400,000 after purchasing an additional 35,168 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 83,018 shares of the company’s stock, valued at approximately $31,131,750. This trade represents a 15.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira J. Platt sold 14,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the transaction, the director directly owned 7,231 shares of the company’s stock, valued at approximately $2,741,561.34. This represents a 65.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 426,452 shares of company stock worth $154,720,683 in the last three months. 16.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Carvana in a research report on Tuesday, November 11th. JMP Securities lifted their price target on Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. Stephens reiterated an “overweight” rating and issued a $440.00 price objective on shares of Carvana in a research report on Tuesday, September 23rd. Zacks Research downgraded shares of Carvana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Fifteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $414.16.

Get Our Latest Report on Carvana

Carvana Trading Up 3.7%

NYSE:CVNA traded up $11.73 on Monday, reaching $330.04. The stock had a trading volume of 190,215 shares, compared to its average volume of 3,804,909. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $413.33. The company has a market cap of $71.80 billion, a price-to-earnings ratio of 75.91, a P/E/G ratio of 1.15 and a beta of 3.50. The firm’s fifty day moving average is $351.97 and its two-hundred day moving average is $338.29. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55.

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

Carvana Profile

(Free Report)

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.

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