Scientech Research LLC Buys New Shares in Carvana Co. (NYSE:CVNA)

Scientech Research LLC bought a new stake in Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,721 shares of the company’s stock, valued at approximately $3,053,000. Carvana accounts for about 0.6% of Scientech Research LLC’s portfolio, making the stock its 10th largest position.

Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in Carvana by 525.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 48,272 shares of the company’s stock valued at $2,556,000 after purchasing an additional 40,557 shares during the last quarter. Commerce Bank purchased a new stake in Carvana in the fourth quarter valued at $249,000. Hsbc Holdings PLC boosted its holdings in Carvana by 107.4% in the fourth quarter. Hsbc Holdings PLC now owns 30,580 shares of the company’s stock valued at $1,612,000 after purchasing an additional 15,832 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. Finally, RV Capital AG boosted its holdings in Carvana by 12.5% in the fourth quarter. RV Capital AG now owns 715,412 shares of the company’s stock valued at $37,874,000 after purchasing an additional 79,277 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wedbush raised shares of Carvana to a “neutral” rating and upped their price target for the company from $120.00 to $150.00 in a report on Monday, August 19th. TD Cowen increased their target price on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Stephens started coverage on shares of Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target for the company. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and upped their price target for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Finally, Wells Fargo & Company upgraded shares of Carvana from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Carvana has a consensus rating of “Hold” and an average price target of $155.12.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $124.08, for a total value of $6,824,400.00. Following the completion of the transaction, the chief financial officer now owns 186,580 shares of the company’s stock, valued at approximately $23,150,846.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $124.69, for a total value of $9,351,750.00. Following the completion of the transaction, the insider now owns 262,500 shares of the company’s stock, valued at approximately $32,731,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Jenkins sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the completion of the transaction, the chief financial officer now directly owns 186,580 shares of the company’s stock, valued at approximately $23,150,846.40. The disclosure for this sale can be found here. Insiders sold 2,516,866 shares of company stock valued at $357,094,934 in the last 90 days. Company insiders own 17.12% of the company’s stock.

Carvana Stock Up 0.9 %

Shares of NYSE CVNA opened at $171.22 on Friday. The company has a 50 day simple moving average of $145.89 and a 200-day simple moving average of $117.64. The company has a market capitalization of $34.68 billion, a P/E ratio of 75.10 and a beta of 3.43. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $176.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. On average, equities research analysts predict that Carvana Co. will post 0.27 earnings per share for the current year.

About Carvana

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.