1,652 Shares in Carvana Co. $CVNA Acquired by Sheets Smith Wealth Management

Key Points

• Sheets Smith Wealth Management has acquired 1,652 shares of Carvana Co. valued at approximately $557,000, marking the firm's entry into the stock in the 2nd quarter.
• Insider activity has been significant, with major shareholder Ernest C. Garcia II selling over 193,376 shares, lowering his ownership but still holding a substantial stake valued at around $12.89 billion.
• Despite a recent 1.0% decline in stock price, Carvana reported earnings that exceeded estimates, with a year-over-year revenue increase of 41.9%.

Sheets Smith Wealth Management acquired a new position in Carvana Co. (NYSE:CVNA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,652 shares of the company's stock, valued at approximately $557,000.

Several other institutional investors have also recently made changes to their positions in CVNA. Toronto Dominion Bank bought a new stake in shares of Carvana during the 4th quarter valued at $3,124,000. Mackenzie Financial Corp purchased a new position in Carvana during the 4th quarter valued at about $1,153,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Carvana during the 4th quarter valued at about $36,527,000. Siemens Fonds Invest GmbH bought a new position in shares of Carvana in the fourth quarter valued at approximately $839,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Carvana by 16.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company's stock valued at $511,000 after acquiring an additional 348 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Activity

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $353.76, for a total transaction of $35,376,000.00. Following the completion of the sale, the insider owned 36,437,346 shares of the company's stock, valued at approximately $12,890,075,520.96. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $394.16, for a total value of $36,805,084.16. Following the sale, the insider directly owned 6,624 shares of the company's stock, valued at approximately $2,610,915.84. This trade represents a 93.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,371,066 shares of company stock worth $843,751,783. Company insiders own 17.12% of the company's stock.

Carvana Stock Down 1.0%

Shares of NYSE CVNA opened at $374.42 on Thursday. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The stock has a market capitalization of $80.58 billion, a P/E ratio of 93.84, a PEG ratio of 1.24 and a beta of 3.51. The firm's 50 day simple moving average is $358.66 and its two-hundred day simple moving average is $299.00. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm's revenue was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. As a group, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVNA. Needham & Company LLC increased their target price on shares of Carvana from $340.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Bank of America upped their price target on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. DA Davidson boosted their target price on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Evercore ISI boosted their target price on Carvana from $365.00 to $370.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 12th. Finally, JMP Securities lifted their price target on Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and an average price target of $387.88.

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.

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