Carvana Co. (NYSE:CVNA) Stake Boosted by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV increased its position in shares of Carvana Co. (NYSE:CVNA) by 742.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,139 shares of the company’s stock after acquiring an additional 27,442 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Carvana were worth $4,008,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after buying an additional 2,112,463 shares during the last quarter. Vanguard Group Inc. grew its position in Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after acquiring an additional 655,603 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Carvana during the 2nd quarter worth $39,997,000. First Trust Advisors LP raised its holdings in shares of Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after purchasing an additional 216,893 shares in the last quarter. Finally, Perbak Capital Partners LLP acquired a new stake in shares of Carvana in the 1st quarter valued at $8,285,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC increased their target price on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Piper Sandler raised their price objective on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and set a $185.00 target price on shares of Carvana in a research report on Tuesday, September 17th. Wedbush raised shares of Carvana to a “neutral” rating and lifted their price target for the company from $120.00 to $150.00 in a research report on Monday, August 19th. Finally, Stephens started coverage on shares of Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Carvana presently has a consensus rating of “Hold” and an average price target of $153.88.

Carvana Price Performance

Shares of NYSE:CVNA opened at $173.85 on Friday. The firm has a market capitalization of $35.22 billion, a PE ratio of 76.25 and a beta of 3.43. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. Carvana Co. has a 1-year low of $25.09 and a 1-year high of $176.33. The business’s 50 day moving average is $143.11 and its 200-day moving average is $115.34.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. Sell-side analysts predict that Carvana Co. will post 0.18 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the insider now directly owns 40,058,131 shares of the company’s stock, valued at $6,209,010,305. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $115.77, for a total value of $6,946,200.00. Following the sale, the insider now owns 937,500 shares of the company’s stock, valued at approximately $108,534,375. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the transaction, the insider now directly owns 40,058,131 shares of the company’s stock, valued at $6,209,010,305. The disclosure for this sale can be found here. Insiders have sold a total of 2,521,866 shares of company stock valued at $347,083,884 over the last quarter. 17.12% of the stock is owned by company insiders.

Carvana Company Profile

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