Amanah Holdings Trust Takes $30.70 Million Position in Carvana Co. $CVNA

Key Points

• Amanah Holdings Trust has taken a new position in Carvana Co. by acquiring 91,462 shares valued at approximately $30.70 million, making it the company's 7th largest position in its portfolio.
• Carvana's stock has received multiple upgrades from analysts, with price targets ranging from $380 to $500, reflecting a largely positive sentiment as equity research analysts rate it as a "Moderate Buy."
• In its latest earnings report, Carvana posted earnings of $1.28 per share, surpassing consensus estimates and achieving a revenue of $4.84 billion, indicating a 41.9% increase year-over-year.

Amanah Holdings Trust purchased a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 91,462 shares of the company's stock, valued at approximately $30,703,000. Carvana comprises approximately 7.7% of Amanah Holdings Trust's holdings, making the stock its 7th biggest position.

A number of other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group lifted its position in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after purchasing an additional 125 shares during the period. N.E.W. Advisory Services LLC bought a new position in Carvana during the first quarter valued at approximately $33,000. Geneos Wealth Management Inc. lifted its position in Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock valued at $53,000 after purchasing an additional 181 shares during the period. Versant Capital Management Inc lifted its position in Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in Carvana during the first quarter valued at approximately $90,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CVNA shares. Royal Bank Of Canada increased their price objective on shares of Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. DA Davidson upped their target price on shares of Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Wells Fargo & Company upped their target price on shares of Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. JMP Securities upped their target price on shares of Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Finally, Needham & Company LLC upped their target price on shares of Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Twelve equities 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, Carvana currently has a consensus rating of "Moderate Buy" and a consensus price target of $383.47.

Carvana Price Performance

CVNA stock opened at $361.66 on Monday. Carvana Co. has a 52 week low of $140.23 and a 52 week high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The company has a fifty day simple moving average of $354.06 and a two-hundred day simple moving average of $290.85. The firm has a market capitalization of $77.83 billion, a P/E ratio of 90.64, a price-to-earnings-growth ratio of 1.19 and a beta of 3.51.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. The business had revenue of $4.84 billion during 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%. Carvana's quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. Analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Ernest C. Garcia II sold 93,376 shares of Carvana stock in a transaction that occurred 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 owned 6,624 shares of the company's stock, valued at $2,610,915.84. The trade was a 93.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $353.76, for a total transaction of $35,376,000.00. Following the completion of the transaction, the insider directly owned 36,437,346 shares in the company, valued at approximately $12,890,075,520.96. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,416,037 shares of company stock worth $854,448,368 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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