Callan Family Office LLC Buys Shares of 2,166 Carvana Co. $CVNA

Key Points

• Callan Family Office LLC has acquired a new stake in Carvana Co., purchasing 2,166 shares valued at approximately $730,000 during the second quarter.
• Several institutional investors, including Price T Rowe Associates and Vanguard Group, have significantly increased their stakes in Carvana, indicating a growing interest with hedge funds now owning 56.71% of the stock.
• Carvana reported better-than-expected quarterly earnings with earnings per share of $1.28, surpassing analysts' estimates, and a revenue of $4.84 billion, highlighting a 41.9% increase compared to the previous year.

Callan Family Office LLC bought a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,166 shares of the company's stock, valued at approximately $730,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD boosted its stake in shares of Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after buying an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after buying an additional 1,109,476 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Carvana in the 1st quarter worth $71,856,000. Contour Asset Management LLC boosted its stake in shares of Carvana by 71.4% in the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company's stock worth $134,462,000 after buying an additional 267,994 shares during the last quarter. Finally, National Pension Service bought a new position in Carvana in the 1st quarter worth $39,090,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup reaffirmed a "buy" rating on shares of Carvana in a report on Thursday. Wall Street Zen raised Carvana from a "hold" rating to a "buy" rating in a report on Saturday. William Blair reissued an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. JMP Securities raised their price target on Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Finally, DA Davidson raised their price target on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $407.44.

Insider Activity

In other news, insider Daniel J. Gill sold 80,000 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the completion of the transaction, the insider owned 197,832 shares in the company, valued at $78,917,163.12. This trade represents a 28.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $394.16, for a total value of $36,805,084.16. Following the transaction, the insider owned 6,624 shares of the company's stock, valued at approximately $2,610,915.84. The trade was a 93.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,838,292 shares of company stock worth $664,602,807 over the last 90 days. Corporate insiders own 16.36% of the company's stock.

Carvana Trading Up 2.9%

Shares of Carvana stock opened at $338.77 on Tuesday. The firm has a market cap of $72.90 billion, a price-to-earnings ratio of 84.91, a PEG ratio of 1.07 and a beta of 3.55. The business has a 50-day moving average price of $364.73 and a 200-day moving average price of $317.04. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion during 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 business's quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) earnings per share. Equities research 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.

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