Russell Investments Group Ltd. purchased a new stake in shares of Carvana Co (NYSE:CVNA) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,603 shares of the company’s stock, valued at approximately $185,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVNA. Schwab Charles Investment Management Inc. purchased a new position in shares of Carvana during the 2nd quarter worth approximately $508,000. Rhumbline Advisers purchased a new position in shares of Carvana during the 2nd quarter worth approximately $392,000. Bank of New York Mellon Corp purchased a new position in shares of Carvana during the 2nd quarter worth approximately $10,604,000. Principal Financial Group Inc. purchased a new position in shares of Carvana during the 2nd quarter worth approximately $14,998,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Carvana during the 2nd quarter worth approximately $1,138,000. 15.18% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on the company. ValuEngine downgraded Carvana from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Consumer Edge restated an “outperform” rating and issued a $23.00 price target on shares of Carvana in a research note on Monday, October 2nd. Deutsche Bank downgraded Carvana from a “buy” rating to a “hold” rating and upped their price target for the stock from $22.00 to $23.50 in a research note on Friday, December 8th. B. Riley restated a “sell” rating and issued a $12.00 price target on shares of Carvana in a research note on Wednesday, November 8th. Finally, BMO Capital Markets cut their price target on Carvana from $25.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $19.88.
Carvana (NYSE:CVNA) last issued its earnings results on Tuesday, November 7th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.01. Carvana had a negative return on equity of 153.67% and a negative net margin of 11.81%. The business had revenue of $225.40 million for the quarter, compared to the consensus estimate of $243.61 million. equities research analysts anticipate that Carvana Co will post -1.2 earnings per share for the current year.
In other Carvana news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $22.65, for a total transaction of $24,951,783.60. The sale was disclosed in a filing with the SEC, which is available through this link.
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Carvana Company Profile
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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