Berkshire Capital Holdings Inc. Has $13.22 Million Stake in Carvana Co. $CVNA

Key Points

• Berkshire Capital Holdings Inc. significantly increased its stake in Carvana Co., acquiring an additional 63,220 shares, leading to a total of 63,230 shares, which constitute about 6.3% of its investment portfolio.
• Carvana reported a 41.9% year-over-year revenue increase, with earnings per share of $1.28 for the recent quarter, surpassing analysts' expectations.
• Insider trading activity includes CEO Ernest C. Garcia III and major shareholder Ernest C. Garcia II selling a combined total of over 105,000 shares on August 13th.

Berkshire Capital Holdings Inc. lifted its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 632,200.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,230 shares of the company's stock after acquiring an additional 63,220 shares during the quarter. Carvana makes up approximately 6.3% of Berkshire Capital Holdings Inc.'s portfolio, making the stock its 4th biggest position. Berkshire Capital Holdings Inc.'s holdings in Carvana were worth $13,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CVNA. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana in the 1st quarter valued at about $33,000. Transce3nd LLC bought a new position in shares of Carvana in the 4th quarter worth $48,000. Versant Capital Management Inc grew its holdings in shares of 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 buying an additional 82 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Carvana in the first quarter worth approximately $90,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Carvana during the 4th quarter worth $98,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. William Blair reissued an "outperform" rating on shares of Carvana in a research report on Wednesday, July 23rd. Evercore ISI raised their price objective 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. Bank of America lifted their target price on Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Royal Bank Of Canada boosted their price target 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. Finally, Citigroup restated an "outperform" rating on shares of Carvana in a research 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. Based on data from MarketBeat.com, Carvana currently has an average rating of "Moderate Buy" and an average price target of $383.47.

Carvana Trading Down 1.5%

CVNA stock traded down $5.0780 during trading on Wednesday, reaching $339.1620. The company had a trading volume of 4,084,776 shares, compared to its average volume of 4,154,286. The company has a market cap of $72.99 billion, a P/E ratio of 85.00, a PEG ratio of 1.19 and a beta of 3.57. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The business has a 50 day moving average of $338.49 and a 200 day moving average of $277.14. Carvana Co. has a 52 week low of $124.39 and a 52 week high of $413.33.

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

Insider Buying and Selling

In related news, 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 in the company, valued at $12,023,468,441.53. This represents a 0.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $346.34, for a total value of $3,463,400.00. Following the completion of the sale, the chief executive officer directly owned 536,440 shares in the company, valued at approximately $185,790,629.60. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,036,140 shares of company stock worth $1,056,693,071. 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.