Caisse DE Depot ET Placement DU Quebec Boosts Stock Position in Carvana Co. $CVNA

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Carvana Co. by 3.1% in Q1, holding 26,482 shares valued at $5.54 million.
• Carvana reported earnings of $1.28 per share for the latest quarter, exceeding estimates, with revenue up 41.9% year-over-year at $4.84 billion.
• Analyst ratings for Carvana include twelve "Buy" and six "Hold," with an average target price of $383.47.

Caisse DE Depot ET Placement DU Quebec increased its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,482 shares of the company's stock after buying an additional 806 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Carvana were worth $5,537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Castle Hook Partners LP purchased a new stake in shares of Carvana in the fourth quarter worth approximately $116,020,000. BNP Paribas Financial Markets raised its stake in shares of Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after purchasing an additional 481,912 shares during the last quarter. Finally, Whale Rock Capital Management LLC raised its stake in shares of Carvana by 29.8% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock worth $247,017,000 after purchasing an additional 278,760 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVNA has been the subject of several analyst reports. William Blair reissued an "outperform" rating on shares of Carvana in a research note on Wednesday, July 23rd. Wedbush raised Carvana to a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley increased their price objective on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. DA Davidson upped their target price on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Evercore ISI upped their target price on Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a report on Tuesday, August 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $383.47.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction 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 legal filing with the SEC, which is available at this link. Insiders sold 2,750,257 shares of company stock worth $965,696,611 over the last three months. 16.36% of the stock is currently owned by corporate insiders.

Carvana Stock Performance

NYSE CVNA traded down $4.56 on Tuesday, hitting $367.36. 1,570,850 shares of the stock traded hands, compared to its average volume of 4,061,458. The business's fifty day moving average is $347.76 and its two-hundred day moving average is $283.29. Carvana Co. has a 12 month low of $124.39 and a 12 month high of $413.33. The firm has a market capitalization of $79.06 billion, a price-to-earnings ratio of 91.95, a PEG ratio of 1.23 and a beta of 3.51. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data 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. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the company earned ($0.05) earnings per share. Carvana's revenue was up 41.9% compared to the same quarter last year. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS 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.