Wilmington Savings Fund Society FSB Invests $241,000 in Carvana Co. (NYSE:CVNA)

Wilmington Savings Fund Society FSB bought a new position in Carvana Co. (NYSE:CVNA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,383 shares of the company’s stock, valued at approximately $241,000.

Other hedge funds have also modified their holdings of the company. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana in the 3rd quarter worth approximately $32,000. Capital Performance Advisors LLP acquired a new stake in Carvana during the 3rd quarter valued at $40,000. Ridgewood Investments LLC acquired a new stake in Carvana during the 2nd quarter valued at $32,000. First Horizon Advisors Inc. increased its holdings in Carvana by 363.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after purchasing an additional 196 shares in the last quarter. Finally, Summit Securities Group LLC increased its holdings in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Down 0.8 %

NYSE:CVNA opened at $253.84 on Wednesday. Carvana Co. has a 12-month low of $40.21 and a 12-month 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 firm has a market capitalization of $52.70 billion, a P/E ratio of 25,384.00 and a beta of 3.32. The stock’s fifty day simple moving average is $231.41 and its 200-day simple moving average is $171.52.

Carvana (NYSE:CVNA) last posted 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 company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the business earned $0.23 earnings per share. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. Equities research analysts expect that Carvana Co. will post 0.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CVNA shares. Wells Fargo & Company raised their price target on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Stephens started coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target for the company. Piper Sandler raised their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup raised their price target on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Carvana currently has a consensus rating of “Hold” and an average target price of $222.71.

Insider Transactions at Carvana

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the transaction, the chief operating officer now directly owns 218,686 shares in the company, valued at approximately $52,484,640. The trade was a 1.37 % 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 Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $247.90, for a total value of $6,159,075.50. Following the transaction, the insider now owns 151,029 shares in the company, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,971,908 shares of company stock worth $379,874,785 in the last three months. Insiders own 17.12% of the company’s stock.

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.