Deutsche Bank AG Sells 22,141 Shares of Carvana Co. (NYSE:CVNA)

Deutsche Bank AG lessened its holdings in Carvana Co. (NYSE:CVNA) by 7.7% in the first quarter, Holdings Channel reports. The institutional investor owned 266,202 shares of the company’s stock after selling 22,141 shares during the period. Deutsche Bank AG’s holdings in Carvana were worth $55,658,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in Carvana by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 490,874 shares of the company’s stock worth $102,632,000 after purchasing an additional 27,912 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in Carvana during the 1st quarter worth approximately $1,609,000. Primecap Management Co. CA raised its holdings in Carvana by 13.8% during the 1st quarter. Primecap Management Co. CA now owns 199,100 shares of the company’s stock worth $41,628,000 after purchasing an additional 24,200 shares during the last quarter. Vanguard Group Inc. raised its holdings in Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Carvana during the 1st quarter worth approximately $90,000. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

NYSE CVNA opened at $345.06 on Tuesday. The company has a fifty day simple moving average of $337.63 and a 200 day simple moving average of $273.00. Carvana Co. has a 12-month low of $124.39 and a 12-month high of $413.33. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The company has a market cap of $74.26 billion, a P/E ratio of 86.48, a PEG ratio of 1.15 and a beta of 3.57.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the firm posted ($0.05) EPS. Carvana’s revenue was up 41.9% compared to the same quarter last year. Sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on CVNA shares. JMP Securities raised their price target on shares of Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Wells Fargo & Company raised their price target on shares of Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Evercore ISI raised their price target on shares of Carvana from $295.00 to $305.00 and gave the stock an “in-line” rating in a report on Tuesday, June 24th. Wedbush upgraded shares of Carvana to a “hold” rating in a research note on Thursday, May 8th. Finally, Piper Sandler lifted their price objective on shares of Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $379.65.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the transaction, the insider directly owned 37,092,317 shares of the company’s stock, valued at $12,870,663,075.83. The trade was a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of Carvana stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the transaction, the insider directly owned 6,624 shares in the company, valued at $2,610,915.84. This represents a 93.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,893,047 shares of company stock worth $998,571,020 over the last ninety days. Insiders own 16.36% of the company’s stock.

Carvana 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.