Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Carvana Co. (NYSE:CVNA)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Carvana Co. (NYSE:CVNA) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,897 shares of the company’s stock after buying an additional 1,528 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Carvana were worth $2,175,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new position in shares of Carvana in the second quarter valued at approximately $32,000. Banco Santander S.A. acquired a new position in Carvana in the 2nd quarter valued at $213,000. K.J. Harrison & Partners Inc purchased a new position in Carvana in the 2nd quarter valued at $1,931,000. Summit Securities Group LLC boosted its stake in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Carvana by 3,218.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the company’s stock worth $427,000 after buying an additional 3,218 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CVNA shares. Morgan Stanley raised their price target on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. TD Cowen boosted their target price on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Evercore ISI cut their price target on Carvana from $150.00 to $142.00 and set an “in-line” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company upgraded Carvana from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. Finally, BTIG Research upped their target price on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $148.40.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $99.25, for a total value of $496,250.00. Following the transaction, the chief financial officer now directly owns 192,552 shares in the company, valued at approximately $19,110,786. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Carvana news, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $99.25, for a total value of $496,250.00. Following the sale, the chief financial officer now owns 192,552 shares of the company’s stock, valued at $19,110,786. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 55,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $124.08, for a total value of $6,824,400.00. Following the transaction, the chief financial officer now owns 186,580 shares of the company’s stock, valued at $23,150,846.40. The disclosure for this sale can be found here. Insiders sold a total of 2,685,422 shares of company stock valued at $349,995,027 over the last 90 days. 17.12% of the stock is owned by company insiders.

Carvana Stock Performance

NYSE CVNA opened at $150.62 on Friday. The stock has a fifty day simple moving average of $137.20 and a 200-day simple moving average of $106.74. The company has a current ratio of 3.11, a quick ratio of 1.62 and a debt-to-equity ratio of 47.20. The stock has a market cap of $30.51 billion, a PE ratio of 66.06 and a beta of 3.37. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $159.85.

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.