28,818 Shares in Carvana Co. $CVNA Purchased by Hrtg GPE LLC

Key Points

• Hrtg GPE LLC initiated a new stake in Carvana in the fourth quarter, buying 28,818 shares worth about $12.16 million. The position makes up 1.5% of its portfolio and is now its fifth-largest holding.
• Insider selling has been active: Director J. Danforth Quayle and insider Thomas Taira both sold shares in June, and insiders have sold 400,812 shares worth about $28 million over the last three months.
• Carvana recently reported strong results, posting $1.69 EPS versus $0.32 expected and revenue of $6.43 billion, while analysts remain mostly positive with a consensus rating of Moderate Buy and a price target around $93.14.

Hrtg GPE LLC bought a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 28,818 shares of the company's stock, valued at approximately $12,162,000. Carvana makes up 1.5% of Hrtg GPE LLC's investment portfolio, making the stock its 5th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Carvana during the fourth quarter worth about $29,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Carvana during the fourth quarter worth about $29,000. Salomon & Ludwin LLC grew its position in shares of Carvana by 112.5% during the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company's stock worth $37,000 after purchasing an additional 45 shares in the last quarter. Washington Trust Advisors Inc. purchased a new position in Carvana during the 3rd quarter valued at approximately $38,000. Finally, Flagship Harbor Advisors LLC purchased a new position in Carvana during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Activity

In related news, Director J Danforth Quayle sold 14,525 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the completion of the sale, the director directly owned 214,960 shares of the company's stock, valued at approximately $15,047,200. This trade represents a 6.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Taira sold 5,597 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $67.15, for a total value of $375,838.55. Following the sale, the insider directly owned 315,075 shares of the company's stock, valued at $21,157,286.25. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 400,812 shares of company stock worth $28,039,446 in the last three months. Corporate insiders own 15.19% of the company's stock.

Carvana Price Performance

NYSE:CVNA opened at $64.09 on Friday. The firm has a market capitalization of $70.30 billion, a price-to-earnings ratio of 38.98, a PEG ratio of 10.82 and a beta of 3.45. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The business has a 50 day simple moving average of $71.20 and a 200-day simple moving average of $75.23. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.12 billion. Equities analysts forecast that Carvana Co. will post 1.58 EPS for the current year.

Analyst Ratings Changes

CVNA has been the subject of several research analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $92.00 price target on shares of Carvana in a report on Friday. Wells Fargo & Company raised their price target on Carvana from $85.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Zacks Research upgraded Carvana from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. Barclays set a $93.00 price target on Carvana and gave the company an "overweight" rating in a report on Thursday, May 14th. Finally, DA Davidson raised their price target on Carvana from $64.00 to $67.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Carvana presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.14.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

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