Hsbc Holdings PLC Has $1.42 Million Stake in Carvana Co. (NYSE:CVNA)

Hsbc Holdings PLC trimmed its position in Carvana Co. (NYSE:CVNA) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,284 shares of the company’s stock after selling 1,635 shares during the quarter. Hsbc Holdings PLC’s holdings in Carvana were worth $1,424,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CVNA. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after purchasing an additional 2,112,463 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after purchasing an additional 655,603 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Carvana in the second quarter valued at $39,997,000. First Trust Advisors LP raised its stake in shares of Carvana by 17.1% in the fourth 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 position in shares of Carvana in the first quarter valued at $8,285,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Trading Down 0.9 %

NYSE:CVNA opened at $169.72 on Friday. 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 price is $146.68 and its two-hundred day moving average price is $118.27. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The firm has a market capitalization of $34.38 billion, a price-to-earnings ratio of 74.44 and a beta of 3.43.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. On average, equities analysts expect that Carvana Co. will post 0.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CVNA shares. DA Davidson upped their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Piper Sandler upped their price target on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Needham & Company LLC upped their price target on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wedbush upgraded Carvana to a “neutral” rating and upped their price target for the company from $120.00 to $150.00 in a research report on Monday, August 19th. Finally, TD Cowen upped their price target on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $155.12.

Insider Buying and Selling at Carvana

In other news, insider Daniel J. Gill sold 30,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the sale, the insider now owns 328,329 shares of the company’s stock, valued at $57,457,575. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Daniel J. Gill sold 30,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the sale, the insider now owns 328,329 shares of the company’s stock, valued at $57,457,575. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 55,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $124.08, for a total value of $6,824,400.00. Following the sale, the chief financial officer now directly owns 186,580 shares in the company, valued at approximately $23,150,846.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,616,866 shares of company stock valued at $374,145,934. 17.12% of the stock is currently 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.