National Bank of Canada FI Raises Holdings in Carvana Co. (NYSE:CVNA)

National Bank of Canada FI boosted its stake in Carvana Co. (NYSE:CVNA) by 47.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,421 shares of the company’s stock after buying an additional 459 shares during the quarter. National Bank of Canada FI’s holdings in Carvana were worth $247,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. acquired a new stake in shares of Carvana during the 2nd quarter worth about $106,000. Raymond James & Associates lifted its stake in shares of Carvana by 154.1% during the second quarter. Raymond James & Associates now owns 10,544 shares of the company’s stock valued at $1,357,000 after buying an additional 6,394 shares during the period. Fifth Third Bancorp boosted its position in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Carvana by 3,218.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the company’s stock worth $427,000 after acquiring an additional 3,218 shares during the period. Finally, Summit Securities Group LLC raised its holdings in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Up 3.0 %

Shares of NYSE:CVNA opened at $255.69 on Tuesday. The company has a 50 day moving average of $230.16 and a two-hundred day moving average of $170.44. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The company has a market capitalization of $53.09 billion, a price-to-earnings ratio of 25,569.00 and a beta of 3.32.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The business’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. As a group, analysts forecast that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the sale, the insider now directly owns 151,029 shares of the company’s stock, valued at $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel J. Gill sold 30,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the transaction, the insider now directly owns 328,329 shares of the company’s stock, valued at approximately $57,457,575. This represents a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,971,908 shares of company stock worth $379,874,785. 17.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their price objective on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Stephens initiated coverage on Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target for the company. Bank of America upped their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Finally, Wedbush increased their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $222.71.

Carvana Company 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.