Prakash Investment Advisors LLC Has $1.16 Million Stock Position in Carvana Co. (NYSE:CVNA)

Prakash Investment Advisors LLC grew its position in Carvana Co. (NYSE:CVNA - Free Report) by 87.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,560 shares of the company's stock after buying an additional 2,600 shares during the period. Carvana makes up 1.3% of Prakash Investment Advisors LLC's portfolio, making the stock its 18th largest position. Prakash Investment Advisors LLC's holdings in Carvana were worth $1,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVNA. Global Retirement Partners LLC increased its position in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Carvana during the 4th quarter worth about $31,000. Transce3nd LLC acquired a new stake in shares of Carvana in the 4th quarter valued at about $48,000. Versant Capital Management Inc lifted its holdings in shares of Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Carvana during the fourth quarter worth about $75,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Trading Up 1.5%

Shares of CVNA stock traded up $5.19 on Wednesday, hitting $343.45. The company had a trading volume of 2,975,853 shares, compared to its average volume of 3,857,420. Carvana Co. has a twelve month low of $118.50 and a twelve month high of $351.43. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The firm has a market cap of $73.55 billion, a P/E ratio of 120.51, a P/E/G ratio of 1.31 and a beta of 3.59. The stock's 50-day moving average is $298.89 and its two-hundred day moving average is $246.24.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same period in the prior year, the business posted $0.23 earnings per share. The firm's revenue was up 38.3% on a year-over-year basis. On average, equities research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 4,971 shares of Carvana stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $325.15, for a total value of $1,616,320.65. Following the completion of the transaction, the insider directly owned 36,837,346 shares of the company's stock, valued at approximately $11,977,663,051.90. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ernest C. Garcia III sold 420 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $335.29, for a total value of $140,821.80. Following the sale, the chief executive officer owned 701,440 shares in the company, valued at approximately $235,185,817.60. The trade was a 0.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,287,111 shares of company stock worth $403,672,899 in the last ninety days. Insiders own 16.36% of the company's stock.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research analyst reports. Citigroup increased their price target on Carvana from $280.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Evercore ISI lifted their target price on shares of Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a report on Tuesday, June 24th. Wedbush raised shares of Carvana to a "hold" rating in a report on Thursday, May 8th. Piper Sandler set a $340.00 price objective on Carvana and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $293.88.

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.