Blueshift Asset Management LLC Buys 3,585 Shares of Carvana Co. (NYSE:CVNA)

Key Points

• Blueshift Asset Management LLC significantly increased its stake in Carvana Co. by 100.6%, now holding 7,147 shares valued at approximately $1.49 million.
• Several analysts have given positive reviews on Carvana, with Wells Fargo boosting their price target to $425.00 and JPMorgan raising theirs to $415.00, indicating strong market interest.
• Despite insider selling, where major shareholder Ernest C. Garcia II sold 50,000 shares, insiders still control 17.12% of Carvana's stock.

Blueshift Asset Management LLC increased its stake in Carvana Co. (NYSE:CVNA - Free Report) by 100.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,147 shares of the company's stock after buying an additional 3,585 shares during the period. Carvana accounts for about 0.6% of Blueshift Asset Management LLC's portfolio, making the stock its 25th largest position. Blueshift Asset Management LLC's holdings in Carvana were worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp increased its position in shares of Carvana by 140.8% during the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after acquiring an additional 1,982 shares during the period. Worldquant Millennium Advisors LLC bought a new position in Carvana in the fourth quarter worth approximately $51,091,000. Farther Finance Advisors LLC increased its holdings in Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after purchasing an additional 2,678 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Carvana during the 4th quarter worth $36,527,000. Finally, Brucke Financial Inc. bought a new stake in Carvana during the 4th quarter valued at $415,000. Institutional investors own 56.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company restated an "overweight" rating and set a $425.00 price target (up previously from $390.00) on shares of Carvana in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a research report on Thursday. Citigroup reaffirmed an "outperform" rating on shares of Carvana in a research report on Thursday. Evercore ISI lifted their price objective on shares of Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada upped their target price on Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $357.37.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $332.21, for a total value of $16,610,500.00. Following the transaction, the insider directly owned 35,342,792 shares of the company's stock, valued at $11,741,228,930.32. This represents a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ernest C. Garcia III sold 4,234 shares of Carvana stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $329.49, for a total value of $1,395,060.66. Following the sale, the chief executive officer directly owned 604,323 shares of the company's stock, valued at approximately $199,118,385.27. This represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,323,765 shares of company stock valued at $772,833,404 over the last quarter. Insiders own 17.12% of the company's stock.

Carvana Price Performance

Shares of CVNA stock opened at $390.34 on Friday. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $413.34. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The firm has a market capitalization of $83.59 billion, a price-to-earnings ratio of 97.83, a PEG ratio of 1.26 and a beta of 3.59. The stock's 50-day simple moving average is $332.32 and its 200-day simple moving average is $266.23.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 49.19%. The company had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same period last year, the business earned ($0.05) EPS. Carvana's revenue for the quarter was up 41.9% on a year-over-year basis. As a group, equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.

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