Focus Partners Advisor Solutions LLC Acquires Shares of 3,140 Carvana Co. $CVNA

Key Points

• Focus Partners Advisor Solutions LLC acquired 3,140 shares of Carvana Co. during the 1st quarter, valued at approximately $656,000.
• Carvana's latest earnings report showed a net profit with an EPS of $1.28, exceeding estimates and reflecting a 41.9% increase in quarterly revenue year-over-year.
• Notable institutional investors, including Brooklyn Investment Group and Royal Bank of Canada, have significantly increased their stakes in Carvana, indicating growing confidence in the company.

Focus Partners Advisor Solutions LLC bought a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,140 shares of the company's stock, valued at approximately $656,000.

Other hedge funds also recently bought and sold shares of the company. J.Safra Asset Management Corp boosted its stake 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 Carvana during the fourth quarter worth about $51,091,000. Farther Finance Advisors LLC boosted its stake in Carvana by 333.1% during the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after buying an additional 2,678 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Carvana during the fourth quarter worth about $36,527,000. Finally, Brucke Financial Inc. acquired a new position in Carvana in the 4th quarter valued at about $415,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Down 0.3%

NYSE:CVNA traded down $0.94 during mid-day trading on Friday, hitting $369.23. The stock had a trading volume of 2,443,272 shares, compared to its average volume of 2,311,703. The stock has a 50-day simple moving average of $351.83 and a two-hundred day simple moving average of $285.61. The company has a market capitalization of $79.46 billion, a PE ratio of 92.45, a PEG ratio of 1.22 and a beta of 3.51. Carvana Co. has a twelve month low of $124.39 and a twelve month high of $413.33. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

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, beating the consensus estimate of $1.09 by $0.19. The firm 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 was up 41.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) earnings per share. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CVNA shares. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Gordon Haskett started coverage on Carvana in a research report on Monday, July 14th. They issued a "hold" rating and a $329.00 target price for the company. Royal Bank Of Canada lifted their target price on Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, DA Davidson lifted their target price on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $383.47.

Insider Activity

In related news, COO Benjamin E. Huston sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $364.66, for a total value of $3,646,600.00. Following the sale, the chief operating officer owned 104,416 shares of the company's stock, valued at $38,076,338.56. This trade represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stephen R. Palmer sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.04, for a total value of $361,040.00. Following the completion of the transaction, the vice president directly owned 45,157 shares of the company's stock, valued at $16,303,483.28. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,522,933 shares of company stock worth $888,062,136 in the last ninety days. 16.36% of the stock is owned by insiders.

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.