Sassicaia Capital Advisers LLC acquired a new position in Carvana Co. (NYSE:CVNA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 7,250 shares of the company's stock, valued at approximately $1,516,000. Carvana accounts for 5.5% of Sassicaia Capital Advisers LLC's holdings, making the stock its 2nd largest position.
Several other large investors have also recently modified their holdings of CVNA. Brooklyn Investment Group increased its holdings in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after buying an additional 125 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Carvana during the 1st quarter worth approximately $33,000. Versant Capital Management Inc grew its holdings in shares of Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after acquiring an additional 82 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Carvana during the 1st quarter worth approximately $90,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Carvana during the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 56.71% of the company's stock.
Insider Activity at Carvana
In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $370.23, for a total value of $3,702,300.00. Following the completion of the sale, the chief executive officer owned 486,440 shares in the company, valued at approximately $180,094,681.20. This represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 2,700,257 shares of company stock valued at $949,012,330. Corporate insiders own 16.36% of the company's stock.
Carvana Stock Performance
Shares of NYSE:CVNA traded down $3.94 during midday trading on Wednesday, hitting $362.45. The company had a trading volume of 1,469,458 shares, compared to its average volume of 4,049,638. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The company has a market cap of $78.00 billion, a price-to-earnings ratio of 90.84, a PEG ratio of 1.23 and a beta of 3.51. Carvana Co. has a 12-month low of $124.39 and a 12-month high of $413.33. The company has a fifty day moving average of $348.61 and a two-hundred day moving average of $283.86.
Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.Carvana's revenue was up 41.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. On average, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
CVNA has been the topic of a number of research analyst reports. Piper Sandler upped their target price on Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Gordon Haskett initiated coverage on Carvana in a research report on Monday, July 14th. They issued a "hold" rating and a $329.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Carvana from $350.00 to $415.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Bank of America boosted their price target on Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Stephens boosted their price target on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $383.47.
View Our Latest Research Report on CVNA
About Carvana
(
Free Report)
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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