Carvana Co. $CVNA is Senator Investment Group LP's 2nd Largest Position

Key Points

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Senator Investment Group LP trimmed its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410,930 shares of the company's stock after selling 23,094 shares during the period. Carvana comprises 4.6% of Senator Investment Group LP's portfolio, making the stock its 2nd largest position. Senator Investment Group LP owned 0.19% of Carvana worth $85,917,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CVNA. Brooklyn Investment Group grew its holdings in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after purchasing an additional 125 shares during the period. N.E.W. Advisory Services LLC bought a new position in Carvana in the first quarter worth approximately $33,000. Transce3nd LLC bought a new stake in shares of Carvana during the 4th quarter valued at $48,000. Versant Capital Management Inc raised its position in shares of Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Carvana during the first quarter valued at $90,000. 56.71% of the stock is owned by institutional investors.

Carvana Stock Up 5.3%

Carvana stock traded up $18.1040 during trading on Friday, reaching $357.1740. The stock had a trading volume of 3,475,072 shares, compared to its average volume of 4,134,150. 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 52-week low of $124.39 and a 52-week high of $413.33. The business has a 50 day moving average price of $338.88 and a 200 day moving average price of $278.17. The stock has a market cap of $76.86 billion, a PE ratio of 89.52, a P/E/G ratio of 1.12 and a beta of 3.57.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm's revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) earnings per share. On average, analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $347.99, for a total value of $3,479,900.00. Following the sale, the chief executive officer directly owned 531,440 shares in the company, valued at $184,935,805.60. The trade was a 1.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 95,087 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $349.09, for a total transaction of $33,193,920.83. Following the completion of the sale, the insider owned 34,442,317 shares in the company, valued at $12,023,468,441.53. This represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,036,140 shares of company stock worth $1,057,170,571 over the last 90 days. Insiders own 17.12% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on CVNA. DA Davidson lifted their price target on shares of Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Morgan Stanley lifted their price objective on shares of Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Needham & Company LLC boosted their target price on shares of Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Piper Sandler upped their price objective on shares of Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Evercore ISI upped their price objective on shares of Carvana from $365.00 to $370.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $383.47.

Carvana 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.