Assenagon Asset Management S.A. Boosts Stake in Carvana Co. (NYSE:CVNA)

Assenagon Asset Management S.A. grew its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 54.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 592,582 shares of the company's stock after acquiring an additional 209,975 shares during the quarter. Assenagon Asset Management S.A. owned about 0.28% of Carvana worth $123,897,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Yousif Capital Management LLC grew its holdings in Carvana by 4.1% during the 1st 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 during the last quarter. Fidelis Capital Partners LLC boosted its position in shares of Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock worth $313,000 after purchasing an additional 51 shares in the last quarter. Bleakley Financial Group LLC grew its position in Carvana by 2.8% during the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock worth $483,000 after purchasing an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Carvana by 21.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after acquiring an additional 74 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its holdings in Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock worth $752,000 after buying an additional 77 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wedbush upgraded Carvana to a "hold" rating in a research report on Thursday, May 8th. Robert W. Baird increased their price objective on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Royal Bank of Canada boosted their price target on shares of Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Bank of America boosted their price objective on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Evercore ISI dropped their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $280.35.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $346.99, for a total value of $34,699,000.00. Following the transaction, the insider now owns 37,092,317 shares in the company, valued at approximately $12,870,663,075.83. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now owns 196,278 shares in the company, valued at approximately $35,033,660.22. This represents a 20.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,321,046 shares of company stock worth $388,900,133 over the last 90 days. 17.12% of the stock is currently owned by corporate insiders.

Carvana Price Performance

CVNA stock traded down $11.76 on Thursday, reaching $328.56. 2,243,142 shares of the company's stock were exchanged, compared to its average volume of 3,928,899. The stock has a fifty day moving average of $267.47 and a 200-day moving average of $240.37. The firm has a market cap of $70.36 billion, a PE ratio of 209.27 and a beta of 3.65. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a twelve month low of $100.05 and a twelve month high of $351.43.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm's revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, equities analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.