Ewa LLC Invests $301,000 in Carvana Co. $CVNA

Key Points

• Ewa LLC has invested approximately **$301,000** in Carvana Co., acquiring 894 shares of the stock in the second quarter.
• Analysts have raised their price targets for Carvana, with Needham & Company boosting it from **$340.00 to $500.00**, resulting in a consensus rating of **"Moderate Buy."**
• CEO Ernest C. Garcia III sold **594 shares** of Carvana stock for a total of **$231,458.04**, bringing his holdings down slightly to **381,440 shares.**

Ewa LLC bought a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 894 shares of the company's stock, valued at approximately $301,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. lifted its holdings in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock worth $36,000 after buying an additional 96 shares in the last quarter. Brooklyn Investment Group raised its stake in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in Carvana in the first quarter valued at about $33,000. V Square Quantitative Management LLC acquired a new position in Carvana in the second quarter valued at about $83,000. Finally, Geneos Wealth Management Inc. raised its stake in Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock valued at $53,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Jefferies Financial Group set a $475.00 target price on Carvana in a research report on Wednesday. William Blair reiterated an "outperform" rating on shares of Carvana in a research report on Wednesday, July 23rd. DA Davidson boosted their price target on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, Piper Sandler boosted their price target on Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $404.94.

Insider Buying and Selling

In related news, CEO Ernest C. Garcia III sold 594 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $389.66, for a total value of $231,458.04. Following the completion of the sale, the chief executive officer directly owned 381,440 shares of the company's stock, valued at approximately $148,631,910.40. This represents a 0.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 2,258,316 shares of company stock valued at $808,685,793. Corporate insiders own 17.12% of the company's stock.

Carvana Stock Performance

Shares of CVNA stock opened at $395.41 on Thursday. The business's 50 day simple moving average is $362.38 and its 200 day simple moving average is $306.14. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The stock has a market capitalization of $85.09 billion, a PE ratio of 99.10, a PEG ratio of 1.23 and a beta of 3.55. 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 (NYSE:CVNA - Get Free Report) last issued its 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. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the firm earned ($0.05) earnings per share. Carvana's revenue for the quarter was up 41.9% on a year-over-year basis. As a group, research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

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.

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