Aberdeen Group plc Grows Stock Position in Carvana Co. $CVNA

Key Points

• Aberdeen Group plc increased its holdings in Carvana Co. by 159.8%, acquiring an additional 2,233 shares and bringing their total to 3,630 shares worth $759,000.
• A number of institutional investors, including Dimensional Fund Advisors and Neuberger Berman Group, have also enhanced their stakes in Carvana, reflecting increased interest in the company.
• Carvana's stock has seen analysts boost their price targets, with notable increases from firms like JPMorgan Chase raising it from $350.00 to $415.00, indicating a strong outlook for the company.

Aberdeen Group plc lifted its stake in Carvana Co. (NYSE:CVNA - Free Report) by 159.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,630 shares of the company's stock after purchasing an additional 2,233 shares during the quarter. Aberdeen Group plc's holdings in Carvana were worth $759,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Carvana by 9.7% in the 1st 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 during the last quarter. Durable Capital Partners LP raised its position in shares of Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after purchasing an additional 129,246 shares during the last quarter. Whale Rock Capital Management LLC raised its position in shares of Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after purchasing an additional 278,760 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after purchasing an additional 481,912 shares during the last quarter. Finally, Palestra Capital Management LLC increased its holdings in Carvana by 15.5% in the 4th quarter. Palestra Capital Management LLC now owns 807,016 shares of the company's stock worth $164,115,000 after buying an additional 108,203 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Ernest C. Garcia III sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $338.27, for a total transaction of $3,382,700.00. Following the completion of the sale, the chief executive officer owned 516,440 shares in the company, valued at $174,696,158.80. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 95,087 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 34,442,317 shares of the company's stock, valued at $12,023,468,441.53. This trade represents a 0.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,046,140 shares of company stock valued at $1,060,772,048. 16.36% of the stock is owned by company insiders.

Carvana Stock Performance

NYSE CVNA traded up $8.61 on Tuesday, reaching $370.73. The stock had a trading volume of 1,235,678 shares, compared to its average volume of 4,111,952. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a 12-month low of $124.39 and a 12-month high of $413.33. The business's 50-day moving average price is $341.53 and its 200 day moving average price is $279.82. The stock has a market cap of $79.78 billion, a P/E ratio of 92.93, a price-to-earnings-growth ratio of 1.18 and a beta of 3.57.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Evercore ISI increased their price target on shares of Carvana from $365.00 to $370.00 and gave the stock an "in-line" rating in a report on Tuesday, August 12th. William Blair reissued an "outperform" rating on shares of Carvana in a research note on Wednesday, July 23rd. JMP Securities lifted their price target on shares of Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Wedbush upgraded Carvana to a "hold" rating in a report on Thursday, May 8th. Finally, Citigroup restated an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and an average price target of $383.47.

About Carvana

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.