865 Shares in Carvana Co. $CVNA Bought by PFG Investments LLC

Key Points

• PFG Investments LLC purchased 865 shares of Carvana Co., valued at approximately $291,000, marking a new investment position in the company during the second quarter.
• Carvana's recent quarterly earnings exceeded expectations with an EPS of $1.28, significantly surpassing the consensus estimate of $1.09, and demonstrating a 41.9% year-over-year revenue increase.
• Insider sales included major shareholder Ernest C. Garcia II selling over 193,000 shares in July, indicating a substantial decrease in his holdings, which raised concerns regarding insider confidence in the company's future.

PFG Investments LLC bought a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 865 shares of the company's stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. raised its stake in Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Carvana by 1.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company's stock valued at $144,835,000 after purchasing an additional 9,694 shares in the last quarter. Northern Trust Corp raised its stake in Carvana by 5.4% during the first quarter. Northern Trust Corp now owns 685,864 shares of the company's stock valued at $143,400,000 after purchasing an additional 35,168 shares in the last quarter. Finally, Contour Asset Management LLC raised its stake in Carvana by 71.4% during the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company's stock valued at $134,462,000 after purchasing an additional 267,994 shares in the last quarter. Institutional investors own 56.71% of the company's stock.

Carvana Trading Down 4.6%

Shares of CVNA opened at $376.56 on Monday. The company has a market cap of $81.04 billion, a P/E ratio of 94.38, a P/E/G ratio of 1.23 and a beta of 3.55. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The company's fifty day simple moving average is $364.64 and its 200-day simple moving average is $310.81. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. The company 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 firm's revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) EPS. As a group, analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of Carvana from $415.00 to $425.00 and gave the company an "overweight" rating in a research note on Wednesday, September 17th. Stephens reaffirmed an "overweight" rating and set a $440.00 price target on shares of Carvana in a research note on Tuesday, September 23rd. Evercore ISI upped their price target on shares of Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a research note on Tuesday, August 12th. Wall Street Zen downgraded shares of Carvana from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Citigroup reissued an "outperform" rating on shares of Carvana in a research note on Thursday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $404.94.

Insider Activity

In other Carvana news, major shareholder Ernest C. Garcia II sold 93,376 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the transaction, the insider 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $353.76, for a total transaction of $35,376,000.00. Following the transaction, the insider directly owned 36,437,346 shares in the company, valued at $12,890,075,520.96. This trade represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,289,966 shares of company stock worth $821,763,103 in the last ninety days. 16.36% of the stock is currently owned by insiders.

Carvana 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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