Bosun Asset Management LLC Purchases 799 Shares of Carvana Co. $CVNA

Key Points

• Bosun Asset Management LLC increased its stake in Carvana Co. by 8.5%, purchasing an additional 799 shares, bringing its total ownership to 10,154 shares valued at approximately $2.12 million.
• Insider Ernest C. Garcia II sold 100,000 shares of Carvana, worth about $34.7 million, reducing his ownership slightly to around 37 million shares.
• Analysts have revised Carvana's stock price targets upwards, with JMP Securities raising its target to $460 and Bank of America increasing it to $425, indicating strong investment sentiment.

Bosun Asset Management LLC grew its position in Carvana Co. (NYSE:CVNA - Free Report) by 8.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,154 shares of the company's stock after buying an additional 799 shares during the period. Carvana accounts for about 0.9% of Bosun Asset Management LLC's portfolio, making the stock its 16th largest position. Bosun Asset Management LLC's holdings in Carvana were worth $2,123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVNA. Alight Capital Management LP purchased a new position in shares of Carvana in the 1st quarter valued at approximately $3,136,000. Alyeska Investment Group L.P. purchased a new position in shares of Carvana in the first quarter worth $71,856,000. Amundi lifted its stake in shares of Carvana by 50.6% during the first quarter. Amundi now owns 353,497 shares of the company's stock worth $73,909,000 after buying an additional 118,711 shares during the period. 3G Capital Partners LP increased its position in shares of Carvana by 300.0% in the 1st quarter. 3G Capital Partners LP now owns 140,000 shares of the company's stock valued at $29,271,000 after acquiring an additional 105,000 shares during the period. Finally, Perbak Capital Partners LLP purchased a new position in Carvana in the 1st quarter valued at about $204,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business'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 completion of the sale, the insider owned 37,092,317 shares in the company, valued at approximately $12,870,663,075.83. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 2,698,333 shares of company stock worth $948,956,369 over the last quarter. Insiders own 17.12% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JMP Securities lifted their target price on shares of Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. DA Davidson raised their price objective on shares of Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Stephens lifted their target price on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Bank of America raised their price target on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, William Blair reaffirmed an "outperform" rating on shares of Carvana in a research report on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Carvana currently has an average rating of "Moderate Buy" and a consensus target price of $383.47.

Carvana Price Performance

Shares of NYSE CVNA opened at $362.45 on Thursday. The stock's 50-day simple moving average is $349.56 and its 200-day simple moving average is $284.40. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The firm has a market capitalization of $78.00 billion, a PE ratio of 90.84, a price-to-earnings-growth ratio of 1.23 and a beta of 3.51. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33.

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

About Carvana

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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