ASR Vermogensbeheer N.V. Invests $1.61 Million in Carvana Co. (NYSE:CVNA)

Key Points

• ASR Vermogensbeheer N.V. has acquired 7,698 shares of Carvana Co. (NYSE: CVNA), valued at approximately $1,609,000, marking a significant new institutional investment in the company.
• Carvana recently announced a strong earnings report with $1.28 EPS, surpassing estimates and showing a 41.9% year-over-year revenue increase.
• Insider trading at Carvana revealed significant sell-offs, with insiders selling over 2.9 million shares totaling around $1 billion in value within the last 90 days.

ASR Vermogensbeheer N.V. purchased a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 7,698 shares of the company's stock, valued at approximately $1,609,000.

Several other hedge funds have also made changes to their positions in CVNA. N.E.W. Advisory Services LLC purchased a new stake in shares of Carvana in the 1st quarter valued at approximately $33,000. Transce3nd LLC acquired a new position in shares of Carvana in the 4th quarter worth approximately $48,000. Versant Capital Management Inc lifted its holdings in shares of Carvana by 39.4% in 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 last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Carvana in the 1st quarter worth approximately $90,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in shares of Carvana in the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 93,376 shares of the stock in a transaction 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 transaction, the insider directly owned 6,624 shares of the company's stock, valued at $2,610,915.84. This trade represents a 93.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the transaction, the insider directly owned 37,092,317 shares in the company, valued at $12,870,663,075.83. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,913,047 shares of company stock worth $1,004,044,920 over the last ninety days. Insiders own 16.36% of the company's stock.

Carvana Stock Down 2.6%

Shares of NYSE CVNA traded down $9.32 during mid-day trading on Friday, reaching $348.43. The company had a trading volume of 2,819,174 shares, compared to its average volume of 3,275,183. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The firm has a 50 day simple moving average of $337.34 and a two-hundred day simple moving average of $272.27. The stock has a market cap of $74.98 billion, a P/E ratio of 87.33, a PEG ratio of 1.15 and a beta of 3.57. 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 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company's revenue was up 41.9% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. Sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Carvana from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. William Blair restated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Needham & Company LLC upped their price objective on shares of Carvana from $340.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Gordon Haskett assumed coverage on shares of Carvana in a report on Monday, July 14th. They set a "hold" rating and a $329.00 target price on the stock. Finally, Citigroup reiterated an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy 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 $379.65.

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.