Swiss National Bank Acquires 78,600 Shares of Carvana Co. (NYSE:CVNA)

Swiss National Bank lifted its position in Carvana Co. (NYSE:CVNAGet Rating) by 23.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 412,205 shares of the company’s stock after acquiring an additional 78,600 shares during the quarter. Swiss National Bank’s holdings in Carvana were worth $9,308,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. 1832 Asset Management L.P. bought a new stake in shares of Carvana in the first quarter worth about $59,000. Signaturefd LLC boosted its position in shares of Carvana by 54.1% during the first quarter. Signaturefd LLC now owns 661 shares of the company’s stock valued at $79,000 after buying an additional 232 shares during the period. Carnegie Capital Asset Management LLC bought a new stake in shares of Carvana during the second quarter valued at approximately $241,000. Steward Partners Investment Advisory LLC raised its stake in shares of Carvana by 141.4% during the first quarter. Steward Partners Investment Advisory LLC now owns 857 shares of the company’s stock valued at $102,000 after acquiring an additional 502 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Carvana by 248.0% during the first quarter. US Bancorp DE now owns 1,646 shares of the company’s stock valued at $197,000 after acquiring an additional 1,173 shares in the last quarter.

Carvana Stock Down 3.1 %

Shares of NYSE:CVNA opened at $8.06 on Monday. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -0.90 and a beta of 2.48. The firm’s 50-day simple moving average is $19.14 and its 200-day simple moving average is $27.26. The company has a quick ratio of 1.01, a current ratio of 2.38 and a debt-to-equity ratio of 17.69. Carvana Co. has a fifty-two week low of $6.50 and a fifty-two week high of $296.70.

Carvana (NYSE:CVNAGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported ($2.67) earnings per share for the quarter, missing the consensus estimate of ($2.02) by ($0.65). The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Carvana had a negative net margin of 5.99% and a negative return on equity of 191.74%. As a group, equities research analysts predict that Carvana Co. will post -9.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on CVNA. Robert W. Baird reduced their price objective on shares of Carvana from $65.00 to $30.00 in a research note on Monday, November 7th. Cowen reduced their price target on Carvana from $95.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 1st. Morgan Stanley dropped their price objective on shares of Carvana from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 11th. JPMorgan Chase & Co. raised shares of Carvana from an “underweight” rating to a “neutral” rating and set a $20.00 price objective on the stock in a report on Tuesday, November 1st. Finally, Royal Bank of Canada lowered their price target on shares of Carvana from $85.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, August 5th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.00.

Insider Buying and Selling

In related news, Director Michael E. Maroone acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average price of $8.61 per share, with a total value of $861,000.00. Following the completion of the acquisition, the director now owns 154,392 shares in the company, valued at $1,329,315.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Michael E. Maroone acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average price of $8.61 per share, with a total value of $861,000.00. Following the completion of the acquisition, the director now owns 154,392 shares in the company, valued at $1,329,315.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Taira acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were bought at an average cost of $11.13 per share, for a total transaction of $111,300.00. Following the acquisition, the insider now owns 42,518 shares of the company’s stock, valued at approximately $473,225.34. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 118,000 shares of company stock valued at $1,052,300. Corporate insiders own 10.70% of the company’s stock.

Carvana Profile

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Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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