RDST Capital LLC Grows Position in Carvana Co. $CVNA

RDST Capital LLC boosted its holdings in shares of Carvana Co. (NYSE:CVNA) by 43.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,802 shares of the company’s stock after acquiring an additional 52,540 shares during the period. Carvana comprises about 5.3% of RDST Capital LLC’s portfolio, making the stock its 13th largest position. RDST Capital LLC’s holdings in Carvana were worth $54,954,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several analysts have issued reports on CVNA shares. Morgan Stanley reaffirmed an “overweight” rating and set a $102.00 target price on shares of Carvana in a research report on Monday, July 20th. Royal Bank Of Canada reissued an “outperform” rating and issued a $92.00 price target on shares of Carvana in a research report on Friday, June 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $107.40 price objective on shares of Carvana in a research note on Thursday, April 30th. Citizens Jmp raised their price objective on Carvana from $92.00 to $103.00 and gave the company a “market outperform” rating in a research report on Friday, May 1st. Finally, Stephens lifted their target price on Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.65.

Carvana Price Performance

NYSE CVNA opened at $66.07 on Wednesday. The firm’s fifty day simple moving average is $67.01 and its two-hundred day simple moving average is $71.21. 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 Co. has a 12-month low of $54.46 and a 12-month high of $97.38. The firm has a market capitalization of $72.47 billion, a P/E ratio of 40.19, a P/E/G ratio of 14.37 and a beta of 3.46.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. Analysts forecast that Carvana Co. will post 1.63 EPS for the current fiscal year.

Insider Activity

In related news, Director J Danforth Quayle sold 14,525 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the transaction, the director directly owned 214,960 shares in the company, valued at $15,047,200. The trade was a 6.33% decrease in their position. The sale was disclosed in a filing 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, insider Thomas Taira sold 5,597 shares of the company’s stock in a transaction dated 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 directly owned 315,075 shares in the company, valued at $21,157,286.25. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 396,962 shares of company stock worth $28,525,088 over the last quarter. Company insiders own 15.19% of the company’s stock.

Carvana Company 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.