BloombergSen Inc. Buys 3,327 Shares of Carvana Co. (NYSE:CVNA)

Key Points

• BloombergSen Inc. increased its stake in Carvana Co. by 18.2% in the first quarter, acquiring an additional 3,327 shares, bringing its total holdings to 21,565 shares valued at approximately $4.51 million.
• Insider activity saw CEO Ernest C. Garcia III sell 10,000 shares valued at around $3.38 million, while major shareholder Ernest C. Garcia II sold 50,000 shares worth about $16.86 million.
• Carvana's stock experienced a 1.7% increase in trading, reaching $331.67, with analysts predicting a consensus rating of "Moderate Buy" and an average price target of $318.16.

BloombergSen Inc. grew its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 18.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,565 shares of the company's stock after acquiring an additional 3,327 shares during the period. Carvana accounts for 0.3% of BloombergSen Inc.'s investment portfolio, making the stock its 17th biggest holding. BloombergSen Inc.'s holdings in Carvana were worth $4,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CVNA. Transce3nd LLC acquired a new stake in Carvana in the 4th quarter worth $48,000. Versant Capital Management Inc raised its position 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. Aster Capital Management DIFC Ltd acquired a new stake in Carvana during the fourth quarter worth about $75,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Carvana during the fourth quarter worth about $98,000. Finally, Shell Asset Management Co. bought a new position in Carvana during the fourth quarter valued at about $116,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Trading Up 1.7%

Carvana stock traded up $5.58 during mid-day trading on Friday, hitting $331.67. 2,065,059 shares of the stock were exchanged, compared to its average volume of 2,795,500. The stock has a market capitalization of $71.02 billion, a price-to-earnings ratio of 116.38, a PEG ratio of 1.26 and a beta of 3.59. Carvana Co. has a 12 month low of $118.50 and a 12 month high of $364.00. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. The firm's fifty day simple moving average is $328.40 and its two-hundred day simple moving average is $261.99.

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, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The company's quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 earnings per share. Analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $337.22, for a total transaction of $16,861,000.00. Following the sale, the insider directly owned 35,542,792 shares of the company's stock, valued at $11,985,740,318.24. This represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $337.51, for a total transaction of $3,375,100.00. Following the sale, the chief executive officer directly owned 621,440 shares in the company, valued at approximately $209,742,214.40. This trade represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,171,515 shares of company stock valued at $719,730,548. Insiders own 17.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVNA shares. William Blair restated an "outperform" rating on shares of Carvana in a research note on Wednesday. Evercore ISI upped their target price on shares of Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research note on Tuesday, June 24th. Stephens upped their target price on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Robert W. Baird upped their target price on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Gordon Haskett started coverage on shares of Carvana in a research note on Monday, July 14th. They issued a "hold" rating and a $329.00 target price on the stock. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $318.16.

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.