AE Wealth Management LLC Buys 14,235 Shares of Carvana Co. (NYSE:CVNA)



AE Wealth Management LLC lifted its stake in shares of Carvana Co. (NYSE:CVNA – Get Rating) by 113.5% in the 1st quarter, Holdings Channel reports. The fund owned 26,780 shares of the company’s stock after acquiring an additional 14,235 during the quarter. AE Wealth Management LLC’s holdings in Carvana were worth $3,195,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CVNA. Bailli Gifford & Co. boosted its stake in Carvana by 25.1% in the 4th quarter. Bailli Gifford & Co. Now owns 9,655,855 shares of the company’s stock worth $2,238,131,000 after purchasing an additional 1,937,812 shares during the period. D1 Capital Partners LP grew its holdings in shares of Carvana by 77.7% during the fourth quarter. D1 Capital Partners LP now owns 4,211,082 shares of the company’s stock worth $976,087,000 after buying an additional 1,841,141 shares in the last quarter. Marshall Wace LLP raised its position in Carvana by 416.7% in the 4th quarter. Marshall Wace LLP now owns 717,824 shares of the company’s stock valued at $166,384,000 after buying an additional 578,900 shares during the last quarter. TD Asset Management Inc. lifted its stake in Carvana by 95.5% in the 4th quarter. TD Asset Management Inc. Now owns 1,125,002 shares of the company’s stock valued at $260,764,000 after acquiring an additional 549,480 shares in the last quarter. Finally, Capital World Investors boosted its position in Carvana by 47.4% during the 4th quarter. Capital World Investors now owns 1,455,412 shares of the company’s stock worth $337,350,000 after acquiring an additional 468,006 shares during the last quarter.

Shares of NYSE CVNA opened at $21.87 on Friday. The company has a debt-to-equity ratio of 63.19, a current ratio of 1.36 and a quick ratio of 0.47. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -5.43 and a beta of 2.60. The stock’s fifty day moving average price is $35.29 and its two-hundred day moving average price is $109.40. Carvana Co. has a one year low of $19.80 and a one year high of $376.83.

Carvana (NYSE:CVNA – Get Rating) last released its quarterly earnings results on Wednesday, April 20th. The company reported ($2.89) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.17). The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.37 billion. Carvana had a negative net margin of 2.55% and a negative return on equity of 53.77%. The company’s revenue was up 55.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.46) earnings per share. On average, equities analysts anticipate that Carvana Co. will post -6.78 earnings per share for the current fiscal year.

In related news, insider Ryan S. Keeton purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were bought at an average price of $25.02 per share, for a total transaction of $500,400.00. Following the completion of the transaction, the insider now owns 54,269 shares of the company’s stock, valued at $1,357,810.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II acquired 3,362,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The shares were purchased at an average cost of $80.00 per share, with a total value of $269,000,000.00. Following the transaction, the insider now directly owns 3,362,500 shares of the company’s stock, valued at $269,000,000. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 5,859,508 shares of company stock valued at $340,538,049. 17.67% of the stock is owned by company insiders.

A number of brokerages have recently commented on CVNA. Deutsche Bank Aktiengesellschaft cut their objective price on shares of Carvana from $95.00 to $54.00 in a research report on Monday, May 16th. Stifel Nicolaus reduced their objective price on shares of Carvana from $48.00 to $34.00 and set a “hold” rating for the company in a research note on Tuesday, June 28th. Jefferies Financial Group downgraded Carvana from a “buy” rating to a “hold” rating and lowered their target price for the company from $150.00 to $40.00 in a research report on Friday, May 13th. Bank of America reduced their price target on Carvana from $225.00 to $80.00 in a research report on Thursday, May 19th. Finally, Cowen lowered their price target on Carvana from $230.00 to $142.00 in a research report on Monday, May 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Carvana has a consensus rating of “Hold” and an average target price of $113.50.

About Carvana (Get Rating)

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company’s 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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)



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