Carvana Co. (NYSE:CVNA) – Analysts at William Blair lowered their Q1 2021 earnings estimates for Carvana in a research report issued to clients and investors on Wednesday, April 28th. William Blair analyst S. Zackfia now expects that the company will earn ($0.60) per share for the quarter, down from their previous forecast of ($0.58). William Blair also issued estimates for Carvana’s Q2 2021 earnings at ($0.40) EPS, Q3 2021 earnings at ($0.39) EPS, Q4 2021 earnings at ($0.68) EPS and FY2022 earnings at ($0.78) EPS.
Other equities analysts have also recently issued reports about the stock. Morgan Stanley upgraded shares of Carvana from an “equal weight” rating to an “overweight” rating and set a $420.00 price objective for the company in a research report on Thursday, March 4th. Bank of America raised shares of Carvana from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research note on Monday. Raymond James started coverage on Carvana in a research note on Tuesday, April 13th. They set a “market perform” rating for the company. Robert W. Baird raised their target price on Carvana from $285.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, February 16th. Finally, Citigroup boosted their price target on Carvana from $305.00 to $350.00 in a research report on Tuesday, March 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company’s stock. Carvana has a consensus rating of “Buy” and a consensus target price of $267.62.
Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.07. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.59 billion. Carvana had a negative return on equity of 43.19% and a negative net margin of 3.06%.
A number of institutional investors and hedge funds have recently bought and sold shares of CVNA. Envestnet Asset Management Inc. boosted its stake in shares of Carvana by 174.5% in the first quarter. Envestnet Asset Management Inc. now owns 33,161 shares of the company’s stock valued at $8,701,000 after purchasing an additional 21,082 shares during the period. Oak Ridge Investments LLC lifted its holdings in Carvana by 1,829.0% during the 1st quarter. Oak Ridge Investments LLC now owns 46,951 shares of the company’s stock worth $12,320,000 after buying an additional 44,517 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in Carvana in the 1st quarter valued at approximately $402,000. Commonwealth Equity Services LLC grew its stake in shares of Carvana by 14.0% in the first quarter. Commonwealth Equity Services LLC now owns 2,781 shares of the company’s stock worth $729,000 after acquiring an additional 342 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Carvana during the first quarter worth $207,000. 48.41% of the stock is currently owned by hedge funds and other institutional investors.
In other Carvana news, insider Thomas Taira sold 155 shares of the company’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $270.72, for a total transaction of $41,961.60. Following the transaction, the insider now directly owns 45,714 shares in the company, valued at $12,375,694.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100 shares of the firm’s stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $290.83, for a total value of $29,083.00. Following the transaction, the insider now owns 100 shares of the company’s stock, valued at $29,083. The disclosure for this sale can be found here. Insiders have sold a total of 862,490 shares of company stock valued at $240,126,239 over the last three months. Corporate insiders own 12.25% 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.
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