Thrivent Financial for Lutherans Invests $3.27 Million in Carvana Co. (NYSE:CVNA)

Thrivent Financial for Lutherans bought a new stake in shares of Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,398 shares of the company’s stock, valued at approximately $3,270,000.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after purchasing an additional 2,112,463 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after acquiring an additional 655,603 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Carvana in the second quarter valued at approximately $39,997,000. First Trust Advisors LP increased its holdings in shares of Carvana by 17.1% during the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after acquiring an additional 216,893 shares in the last quarter. Finally, Perbak Capital Partners LLP acquired a new position in shares of Carvana during the first quarter worth approximately $8,285,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity

In related news, insider Daniel J. Gill sold 20,000 shares of the firm’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 sale, the insider now directly 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 available at the SEC website. In other news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $145.00, for a total value of $2,175,000.00. Following the completion of the transaction, the insider now directly owns 114,124 shares in the company, valued at approximately $16,547,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Gill sold 20,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 359,370 shares in the company, valued at $53,905,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,486,866 shares of company stock worth $357,967,534. 17.12% of the stock is currently owned by insiders.

Carvana Price Performance

Shares of NYSE CVNA opened at $169.78 on Monday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $176.33. The stock has a market cap of $34.39 billion, a PE ratio of 74.46 and a beta of 3.43. The stock has a fifty day moving average of $146.68 and a 200-day moving average of $118.84.

Carvana (NYSE:CVNA) last posted its earnings results 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. Equities research analysts anticipate that Carvana Co. will post 0.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. BTIG Research upped their price objective on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC upped their target price on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Bank of America reiterated a “buy” rating and set a $185.00 price target on shares of Carvana in a research note on Tuesday, September 17th. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Carvana in a research note on Monday, September 9th. Finally, Stephens started coverage on shares of Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $155.12.

Carvana 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.