Carvana Co. $CVNA Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Carvana Co. by 27.6%, owning 529,596 shares worth approximately $110.73 million as of the latest filing.
• Major shareholder Ernest C. Garcia II sold 100,000 shares valued at over $35 million, reducing his ownership significantly during recent transactions, with insiders selling a total of 2.4 million shares worth around $857 million in the last 90 days.
• Carvana reported earnings of $1.28 per share for the latest quarter, surpassing analysts' expectations, and showed a 41.9% year-over-year revenue increase.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 27.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 529,596 shares of the company's stock after buying an additional 114,526 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.25% of Carvana worth $110,728,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp grew its position in 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 buying an additional 1,982 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in shares of Carvana during the 4th quarter worth approximately $51,091,000. Farther Finance Advisors LLC increased its stake in shares of 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Carvana during the 4th quarter worth approximately $36,527,000. Finally, Brucke Financial Inc. purchased a new position in shares of Carvana during the 4th quarter worth approximately $415,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $353.76, for a total transaction of $35,376,000.00. Following the transaction, the insider owned 36,437,346 shares of the company's stock, valued at $12,890,075,520.96. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the transaction, the insider directly owned 6,624 shares in the company, valued at approximately $2,610,915.84. This represents a 93.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,423,157 shares of company stock worth $856,602,667. 17.12% of the stock is currently owned by insiders.

Carvana Stock Performance

Shares of CVNA opened at $361.66 on Friday. 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 company has a market capitalization of $77.83 billion, a price-to-earnings ratio of 90.64, a PEG ratio of 1.17 and a beta of 3.51. Carvana Co. has a 1 year low of $140.23 and a 1 year high of $413.33. The company's 50 day simple moving average is $354.06 and its 200 day simple moving average is $289.99.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. Carvana's revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

CVNA has been the subject of a number of recent research reports. Bank of America raised their price objective on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada raised their price objective on shares of Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Carvana from $350.00 to $415.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. William Blair reissued an "outperform" rating on shares of Carvana in a research note on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of Carvana from a "buy" rating to a "hold" rating in a research note on Sunday, September 7th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Carvana has a consensus rating of "Moderate Buy" and a consensus target price of $383.47.

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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