Mufg Securities Americas Inc. Purchases 17,661 Shares of Carvana Co. $CVNA

Mufg Securities Americas Inc. grew its position in shares of Carvana Co. (NYSE:CVNA) by 451.3% during the second quarter, Holdings Channel reports. The fund owned 21,574 shares of the company’s stock after purchasing an additional 17,661 shares during the period. Mufg Securities Americas Inc.’s holdings in Carvana were worth $1,420,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Carvana by 40.8% in the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after purchasing an additional 8,654 shares during the period. Geneos Wealth Management Inc. grew its stake in Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after purchasing an additional 181 shares during the period. Cerity Partners LLC grew its stake in Carvana by 28.8% in the second quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after purchasing an additional 1,226 shares during the period. AXA S.A. raised its holdings in Carvana by 340.7% in the second quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after purchasing an additional 3,288 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Carvana by 9.1% during the second quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock valued at $3,334,000 after buying an additional 825 shares during the period. Institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 63,750 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total value of $4,356,675.00. Following the transaction, the chief financial officer directly owned 1,029,580 shares of the company’s stock, valued at approximately $70,361,497.20. This represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.55, for a total value of $3,427,500.00. Following the sale, the chief operating officer owned 458,755 shares in the company, valued at approximately $31,447,655.25. This represents a 9.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 420,897 shares of company stock worth $28,777,664 in the last three months. Corporate insiders own 15.19% of the company’s stock.

Analyst Ratings Changes

CVNA has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Evercore set a $75.00 price objective on shares of Carvana in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Citizens Jmp decreased their target price on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a research note on Thursday, July 30th. Finally, Citigroup lowered their target price on shares of Carvana from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.14.

Carvana Stock Up 0.2%

Shares of Carvana stock opened at $74.24 on Friday. The company has a 50-day simple moving average of $68.10 and a two-hundred day simple moving average of $68.34. The stock has a market capitalization of $81.70 billion, a PE ratio of 41.06, a price-to-earnings-growth ratio of 2.69 and a beta of 3.46. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.51 earnings per share. On average, analysts anticipate that Carvana Co. will post 1.68 EPS for the current fiscal year.

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.