Alberta Investment Management Corp Has $4.16 Million Position in Carvana Co. (NYSE:CVNA)

Key Points

• Alberta Investment Management Corp increased its stake in Carvana Co. by 15.0%, now holding 19,900 shares worth approximately $4.16 million after acquiring an additional 2,600 shares.
• Multiple analysts have upgraded their price targets for Carvana, with Stephens raising it to $375 and JPMorgan Chase increasing theirs to $415, reflecting strong confidence in the company's performance.
• Carvana recently reported a quarterly earnings per share of $1.28, surpassing the consensus estimate by $0.19, with a revenue of $4.84 billion, marking a 41.9% year-over-year increase.

Alberta Investment Management Corp raised its stake in Carvana Co. (NYSE:CVNA - Free Report) by 15.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,900 shares of the company's stock after buying an additional 2,600 shares during the period. Alberta Investment Management Corp's holdings in Carvana were worth $4,161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVNA. Yousif Capital Management LLC lifted its holdings in shares of Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock valued at $265,000 after purchasing an additional 50 shares in the last quarter. Versant Capital Management Inc lifted its stake in Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after acquiring an additional 82 shares in the last quarter. IFP Advisors Inc lifted its stake in Carvana by 16.0% during the 1st quarter. IFP Advisors Inc now owns 638 shares of the company's stock valued at $133,000 after acquiring an additional 88 shares in the last quarter. Signaturefd LLC boosted its holdings in Carvana by 5.1% during the 1st quarter. Signaturefd LLC now owns 1,902 shares of the company's stock worth $398,000 after acquiring an additional 93 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Carvana by 2.3% in the fourth quarter. Cerity Partners LLC now owns 4,314 shares of the company's stock valued at $845,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVNA shares. Needham & Company LLC set a $500.00 price target on shares of Carvana and gave the stock a "buy" rating in a report on Thursday, July 31st. Piper Sandler raised their price target on shares of Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada upped their price objective on Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Evercore ISI raised their target price on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. boosted their target price on Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $379.65.

Carvana Trading Down 2.6%

CVNA traded down $9.23 during midday trading on Tuesday, hitting $351.43. The company's stock had a trading volume of 3,348,974 shares, compared to its average volume of 3,195,607. The firm has a market cap of $75.26 billion, a P/E ratio of 88.08, a PEG ratio of 1.19 and a beta of 3.57. Carvana Co. has a 52-week low of $124.39 and a 52-week high of $413.33. 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 moving average price of $334.70 and a two-hundred day moving average price of $268.97.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates 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 in the previous year, the business posted ($0.05) EPS. On average, research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the completion of the sale, the insider directly owned 37,092,317 shares in the company, valued at $12,870,663,075.83. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Gill sold 80,000 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the transaction, the insider directly owned 197,832 shares of the company's stock, valued at $78,917,163.12. This represents a 28.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,787,202 shares of company stock valued at $951,316,546 over the last 90 days. 16.36% of the stock is currently owned by corporate insiders.

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.