Nuveen LLC Acquires Shares of 180,000 Carvana Co. $CVNA

Key Points

• Nuveen LLC acquired 180,000 shares of Carvana Co. (NYSE:CVNA), valued at approximately $37.6 million, during the 1st quarter, increasing the institutional ownership of Carvana to 56.71%.
• Carvana’s stock has recently rebounded, with Shareholder Ernest C. Garcia II selling 100,000 shares valued at about $34.7 million, bringing his direct ownership to approximately $12.87 billion.
• Research analysts have provided a range of ratings for Carvana, with updates including price targets up to $460 and a consensus rating of "Moderate Buy" as of recent evaluations.

Nuveen LLC bought a new position in Carvana Co. (NYSE:CVNA - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 180,000 shares of the company's stock, valued at approximately $37,634,000. Nuveen LLC owned approximately 0.08% of Carvana at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Yousif Capital Management LLC lifted its holdings in Carvana by 4.1% during the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after buying an additional 50 shares in the last quarter. Commerce Bank raised its holdings in shares of Carvana by 1.6% in the 1st quarter. Commerce Bank now owns 4,446 shares of the company's stock valued at $930,000 after purchasing an additional 69 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Carvana by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock worth $466,000 after purchasing an additional 72 shares in the last quarter. Versant Capital Management Inc increased its holdings in Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after buying an additional 82 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in Carvana by 16.0% during the 1st quarter. IFP Advisors Inc now owns 638 shares of the company's stock worth $133,000 after buying an additional 88 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Down 3.4%

Shares of Carvana stock traded down $11.7850 during midday trading on Wednesday, reaching $332.4550. 2,932,218 shares of the company's stock traded hands, compared to its average volume of 4,146,705. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The company has a market cap of $71.54 billion, a price-to-earnings ratio of 83.14, a price-to-earnings-growth ratio of 1.19 and a beta of 3.57. The company's 50 day simple moving average is $338.49 and its 200 day simple moving average is $277.14. Carvana Co. has a 52 week low of $124.39 and a 52 week high of $413.33.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVNA. JPMorgan Chase & Co. lifted their target price on Carvana from $350.00 to $415.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Robert W. Baird upped their price target on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Stephens upped their target price on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Piper Sandler boosted their price objective on shares of Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Citigroup reaffirmed an "outperform" rating on shares of Carvana in a research report on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $383.47.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 95,087 shares of Carvana stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $349.09, for a total value of $33,193,920.83. Following the transaction, the insider directly owned 34,442,317 shares in the company, valued at approximately $12,023,468,441.53. The trade was a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $346.34, for a total value of $3,463,400.00. Following the completion of the sale, the chief executive officer directly owned 536,440 shares in the company, valued at $185,790,629.60. This trade represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,036,140 shares of company stock valued at $1,056,693,071 over the last 90 days. Corporate insiders own 16.36% of the company's stock.

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.