Banque Cantonale Vaudoise Takes Position in Carvana Co. (NYSE:CVNA)

Key Points

• Banque Cantonale Vaudoise acquired a new stake in Carvana Co. by purchasing 3,024 shares valued at approximately $633,000 during the first quarter.
• Insider selling activity included major shareholder Ernest C. Garcia II, who sold 50,000 shares for about $16.61 million, while CEO Ernest C. Garcia III sold 2,700 shares worth over $1.09 million.
• Carvana recently beat analysts' earnings expectations, reporting an EPS of $1.28 for the quarter and a revenue increase of 41.9% compared to the same quarter last year.

Banque Cantonale Vaudoise bought a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,024 shares of the company's stock, valued at approximately $633,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC raised its holdings in Carvana by 4.1% in the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock valued at $265,000 after acquiring an additional 50 shares in the last quarter. Versant Capital Management Inc increased its holdings 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 purchasing an additional 82 shares in the last quarter. IFP Advisors Inc grew its holdings in Carvana by 16.0% during the 1st quarter. IFP Advisors Inc now owns 638 shares of the company's stock worth $133,000 after acquiring an additional 88 shares during the last quarter. Signaturefd LLC raised its position in Carvana by 5.1% in the 1st quarter. Signaturefd LLC now owns 1,902 shares of the company's stock worth $398,000 after purchasing an additional 93 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Carvana by 2.3% during the fourth quarter. Cerity Partners LLC now owns 4,314 shares of the company's stock valued at $845,000 after acquiring an additional 99 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Down 1.9%

Shares of NYSE CVNA traded down $6.99 during trading hours on Monday, hitting $360.79. The company had a trading volume of 3,782,462 shares, compared to its average volume of 3,164,308. Carvana Co. has a 1-year low of $118.50 and a 1-year 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 firm's 50 day moving average is $333.58 and its 200-day moving average is $268.06. The stock has a market capitalization of $77.26 billion, a P/E ratio of 92.18, a price-to-earnings-growth ratio of 1.25 and a beta of 3.57.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVNA. JMP Securities set a $460.00 price target on Carvana and gave the company a "market outperform" rating in a research note on Thursday. Robert W. Baird raised their price target on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Citigroup reiterated an "outperform" rating on shares of Carvana in a research report on Thursday. Royal Bank Of Canada raised their target price on shares of Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Bank of America upped their price target on shares of Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of "Moderate Buy" and a consensus target price of $379.65.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the sale, the insider 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Gill sold 80,000 shares of Carvana stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $398.91, for a total value of $31,912,800.00. Following the transaction, the insider owned 197,832 shares of the company's stock, valued at $78,917,163.12. This represents a 28.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,567,202 shares of company stock worth $867,327,000. Company insiders own 16.36% of the company's stock.

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.