Carvana Co. (NYSE:CVNA) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Carvana Co. (NYSE:CVNA) by 25.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,067 shares of the company’s stock after acquiring an additional 2,691 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Carvana were worth $3,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. KB Financial Partners LLC acquired a new stake in shares of Carvana in the first quarter worth approximately $29,000. Altshuler Shaham Ltd acquired a new position in Carvana during the first quarter worth $31,000. Certified Advisory Corp acquired a new position in Carvana during the first quarter worth $33,000. NEXT Financial Group Inc boosted its stake in Carvana by 6,533.3% during the second quarter. NEXT Financial Group Inc now owns 199 shares of the company’s stock worth $60,000 after buying an additional 196 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Carvana by 40.1% during the second quarter. Quadrant Capital Group LLC now owns 199 shares of the company’s stock worth $60,000 after buying an additional 57 shares during the last quarter. 54.18% of the stock is currently owned by hedge funds and other institutional investors.

CVNA has been the topic of a number of recent research reports. JMP Securities boosted their price objective on Carvana from $326.00 to $470.00 and gave the stock a “market outperform” rating in a research note on Monday, August 9th. Piper Sandler lowered Carvana from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $303.00 to $306.00 in a research note on Tuesday, June 29th. Cowen boosted their price objective on Carvana from $336.00 to $366.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. Truist Securities boosted their price objective on Carvana from $330.00 to $390.00 and gave the stock a “buy” rating in a research note on Friday, August 6th. Finally, Truist lifted their target price on Carvana from $330.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, August 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $337.85.

Shares of NYSE CVNA opened at $329.07 on Wednesday. The stock’s 50-day moving average is $336.64 and its two-hundred day moving average is $295.69. The company has a debt-to-equity ratio of 3.02, a current ratio of 2.43 and a quick ratio of 0.95. Carvana Co. has a 1-year low of $158.25 and a 1-year high of $376.83. The company has a market cap of $56.79 billion, a price-to-earnings ratio of -281.25 and a beta of 2.38.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, August 5th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.63. Carvana had a negative return on equity of 6.20% and a negative net margin of 0.94%. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.49 billion. Equities research analysts anticipate that Carvana Co. will post -1.1 earnings per share for the current fiscal year.

In related news, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $335.95, for a total value of $3,359,500.00. Following the completion of the sale, the chief operating officer now directly owns 30,396 shares of the company’s stock, valued at approximately $10,211,536.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the company’s stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $294.80, for a total value of $14,740,000.00. Following the completion of the sale, the insider now directly owns 2,400 shares of the company’s stock, valued at $707,520. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,303,434 shares of company stock valued at $426,520,549. Insiders own 10.70% of the company’s stock.

Carvana Profile

Carvana Co is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experience. It operates through the following segments: Vehicle Sales; Wholesale Vehicle Sales; and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle to customers through website.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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