Northwestern Mutual Wealth Management Co. Has $988,000 Position in Carvana Co. $CVNA

Northwestern Mutual Wealth Management Co. increased its stake in Carvana Co. (NYSE:CVNA) by 561.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,014 shares of the company’s stock after acquiring an additional 12,744 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Carvana were worth $988,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenleaf Trust bought a new stake in Carvana during the second quarter worth $242,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Carvana by 345.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock valued at $218,867,000 after acquiring an additional 2,579,295 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in Carvana by 449.2% during the second quarter. New Mexico Educational Retirement Board now owns 35,700 shares of the company’s stock valued at $2,350,000 after purchasing an additional 29,200 shares during the period. Royal London Asset Management Ltd. lifted its position in shares of Carvana by 399.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 295,849 shares of the company’s stock valued at $19,473,000 after buying an additional 236,574 shares during the last quarter. Finally, Mufg Securities Americas Inc. lifted its position in shares of Carvana by 451.3% during the 2nd quarter. Mufg Securities Americas Inc. now owns 21,574 shares of the company’s stock valued at $1,420,000 after buying an additional 17,661 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 63,750 shares of Carvana stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total value of $4,356,675.00. Following the sale, the chief financial officer directly owned 1,029,580 shares in the company, valued at approximately $70,361,497.20. The trade was a 5.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Friday, August 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,132,500.00. Following the completion of the transaction, the director directly owned 186,470 shares of the company’s stock, valued at $14,078,485. The trade was a 7.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 420,897 shares of company stock worth $28,914,626 in the last quarter. Company insiders own 15.19% of the company’s stock.

Carvana Price Performance

Shares of Carvana stock opened at $74.65 on Friday. The business has a 50 day moving average of $68.89 and a 200 day moving average of $68.31. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The company has a market cap of $82.15 billion, a PE ratio of 41.29, a P/E/G ratio of 2.18 and a beta of 3.49.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The firm’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 earnings per share. As a group, equities research analysts forecast that Carvana Co. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent research reports. BTIG Research reissued a “buy” rating and issued a $87.00 price objective on shares of Carvana in a report on Tuesday, August 18th. Barclays cut their price objective on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Evercore set a $75.00 target price on shares of Carvana in a report on Thursday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of Carvana in a report on Thursday, July 30th. Finally, Argus reduced their price target on Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.14.

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.