Carvana Co. $CVNA Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 239.6% in the fourth quarter, HoldingsChannel reports. The firm owned 221,727 shares of the company’s stock after acquiring an additional 156,430 shares during the period. Hsbc Holdings PLC’s holdings in Carvana were worth $93,748,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after buying an additional 1,407,762 shares in the last quarter. Vanguard Group Inc. increased its position in Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after buying an additional 3,328,115 shares in the last quarter. State Street Corp raised its holdings in shares of Carvana by 93.7% in the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after acquiring an additional 2,764,759 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after acquiring an additional 1,711,144 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after acquiring an additional 1,382,852 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

Carvana stock opened at $66.56 on Monday. The firm has a market capitalization of $73.01 billion, a P/E ratio of 40.49, a PEG ratio of 11.23 and a beta of 3.45. The stock has a fifty day moving average price of $71.59 and a 200 day moving average price of $75.09. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. Equities research analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current year.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of analyst reports. Evercore increased their price objective on Carvana from $78.00 to $80.00 in a research note on Tuesday, April 28th. Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Carvana in a report on Friday, June 5th. Barclays set a $93.00 price target on shares of Carvana and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Jefferies Financial Group lowered their price target on shares of Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a research report on Friday, March 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Insider Transactions at Carvana

In other Carvana news, insider Thomas Taira sold 5,597 shares of Carvana stock in a transaction on Monday, June 8th. The shares were sold at an average price of $67.15, for a total value of $375,838.55. Following the transaction, the insider owned 315,075 shares in the company, valued at $21,157,286.25. This trade represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction on Monday, June 15th. The shares were sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the transaction, the director owned 186,470 shares in the company, valued at approximately $12,648,260.10. This trade represents a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 415,812 shares of company stock valued at $29,056,896 in the last quarter. Insiders own 15.19% of the company’s stock.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.