Carvana Co. (NYSE:CVNA) Shares Purchased by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its stake in Carvana Co. by 253.7%, now holding 13,677 shares valued at approximately $2.86 million.
• Other institutional investors also boosted their investments, with Vanguard Group Inc. increasing its stake by 9.7% to own over 12.5 million shares worth around $2.62 billion.
• Carvana's recent earnings report showed a profit of $1.28 per share, surpassing estimates, and a revenue increase of 41.9% year-on-year.

Entropy Technologies LP raised its position in Carvana Co. (NYSE:CVNA - Free Report) by 253.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,677 shares of the company's stock after purchasing an additional 9,810 shares during the period. Entropy Technologies LP's holdings in Carvana were worth $2,860,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Carvana during the 1st quarter valued at $33,000. Transce3nd LLC purchased 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 buying an additional 82 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Carvana during the 1st quarter valued at $90,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Carvana during the 4th quarter valued at $98,000. 56.71% of the stock is owned by institutional investors.

Carvana Trading Down 2.2%

Shares of Carvana stock traded down $7.71 during trading on Tuesday, hitting $337.55. The stock had a trading volume of 289,132 shares, compared to its average volume of 4,187,267. The firm's fifty day simple moving average is $337.63 and its 200-day simple moving average is $273.00. The stock has a market cap of $72.64 billion, a PE ratio of 84.64, a PEG ratio of 1.15 and a beta of 3.57. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. Carvana Co. has a 12 month low of $124.39 and a 12 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The firm 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%. The company's quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $346.61, for a total transaction of $3,466,100.00. Following the completion of the sale, the chief executive officer directly owned 561,440 shares in the company, valued at approximately $194,600,718.40. The trade was a 1.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $359.63, for a total transaction of $35,963,000.00. Following the completion of the transaction, the insider owned 34,742,792 shares of the company's stock, valued at approximately $12,494,550,286.96. This represents a 0.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,893,047 shares of company stock valued at $998,571,020. 16.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Needham & Company LLC raised their price objective on shares of Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Morgan Stanley raised their price objective on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Robert W. Baird raised their price objective on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price on the stock in a research report on Friday, July 25th. Finally, JMP Securities lifted their target price on shares of Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $383.47.

About Carvana

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.