Massachusetts Financial Services Co. MA Acquires 1,136 Shares of Carvana Co. (NYSE:CVNA)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Carvana Co. (NYSE:CVNA) by 3.5% during the 2nd quarter, Holdings Channel reports. The firm owned 33,805 shares of the company’s stock after buying an additional 1,136 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Carvana were worth $4,351,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in shares of Carvana by 112.9% during the fourth quarter. Russell Investments Group Ltd. now owns 1,699 shares of the company’s stock valued at $90,000 after buying an additional 901 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Carvana by 25.7% in the 4th quarter. Teacher Retirement System of Texas now owns 8,760 shares of the company’s stock worth $464,000 after purchasing an additional 1,789 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Carvana during the 4th quarter valued at about $203,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Carvana by 525.7% during 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 in the last quarter. Finally, Commerce Bank bought a new stake in shares of Carvana in the fourth quarter worth about $249,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVNA has been the subject of several research analyst reports. Morgan Stanley raised their price target on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Bank of America restated a “buy” rating and issued a $185.00 price target on shares of Carvana in a research report on Tuesday, September 17th. Piper Sandler increased their price objective on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Wedbush upgraded Carvana to a “neutral” rating and lifted their price target for the stock from $120.00 to $150.00 in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $153.88.

Carvana Trading Up 1.8 %

Shares of NYSE CVNA opened at $173.85 on Friday. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $176.33. The firm has a market cap of $35.22 billion, a PE ratio of 76.25 and a beta of 3.43. The business has a fifty day simple moving average of $143.11 and a two-hundred day simple moving average of $115.34. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. Analysts expect that Carvana Co. will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total value of $3,000,000.00. Following the completion of the transaction, the insider now owns 359,370 shares of the company’s stock, valued at $53,905,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the sale, the insider now owns 359,370 shares of the company’s stock, valued at $53,905,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ira J. Platt sold 664 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the completion of the transaction, the director now owns 30,227 shares of the company’s stock, valued at $4,534,050. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,521,866 shares of company stock valued at $347,083,884. Company insiders own 17.12% of the company’s stock.

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.