Investment firm, Commonwealth Equity Services LLC has made a bold move by acquiring a new stake in Carvana Co. This acquisition was recently revealed through the company’s Form 13F filing with the Securities and Exchange Commission (SEC). The acquisition adds to the growing portfolio of Commonwealth Equity Services.
The acquisition of 17,173 shares in Carvana stock is valued at approximately $81,000. This significant purchase adds to the collection of securities that Commonwealth Equity currently holds. It is a testament to their commitment to making strategic investments that are poised for profitability.
Carvana (NYSE:CVNA), a pioneer in online car buying and selling has shown resilience during these challenging times. Although there has been some uncertainty due to Covid-19 pandemic, Caravan sports an impressive market valuation and had an EPS (Earnings Per Share) beat during its recent earnings report on May 4th. Despite experiencing a drop in revenue compared to analyst estimates during the same quarter last year, the company remained profitable with gross revenues valued at over $2.6 billion.
In light of the current uncertainties surrounding other industries due to COVID-19 challenges, Carava seems like an attractive option for long-term investment strategies. As demand for online auto purchasing grows – especially given that social distancing measures may remain relevant for some time – experts believe there’s significant room for growth.
The acquision by Commonwealth Equity Services raises interesting questions about this investment strategy and how it could impact the future trajectory of both companies involved. While it remains unclear how this will play out in practice, one thing is certain: investors are keeping a close eye on any developments concerning this powerhouse stock car company.
For those interested in following along or learning more about current holdings details as well as insider trades related to Carvana Co., visit HoldingsChannel.com where you can access up-to-date information on all things CVNA-related.”
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Carvana Co.: A Disruptive Buying and Selling Platform with Divided Analyst Opinions
Carvana Co. is a holding company that engages in the buying and selling of used cars, with its eCommerce platform providing access to a unique customer experience. The company was founded in 2012 by Ernest Garcia III, Benjamin Huston, and Ryan Keeton and is headquartered in Tempe, Arizona. In recent months, several institutional investors have made changes to their positions in CVNA. Vanguard Group Inc., for example, grew its holdings in shares of Carvana by 46.8% during the first quarter of this year. Millennium Management LLC boosted its position in Carvana by an impressive 615.6% during the second quarter.
Despite a 52-week high of $58.05 and a market cap of almost $3 billion, Carvana’s current price-to-earnings ratio still lingers around -1.11 along with a beta of 2.80, signifying substantial market uncertainty surrounding the stock.
Several equities analysts have opined on future prospects for Carvana Co., and opinions are divided between buy and sell ratings while some analysts project an “equal weight” rating for the company.
To those interested in keeping up with Carvana’s latest developments, HoldingsChannel.com remains an excellent tool for tracking real-time movements from hedge funds that trade with CVNA shares and informed insiders willing to make opportunistic moves towards stocks like Carvanas’.