Carvana Co. (NYSE:CVNA) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 27,368.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 215,352 shares of the company's stock after buying an additional 214,568 shares during the quarter. GAMMA Investing LLC owned about 0.10% of Carvana worth $45,026,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CVNA. Versant Capital Management Inc grew its position in shares of Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after acquiring an additional 82 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Carvana by 4.1% during the fourth quarter. Wellington Management Group LLP now owns 36,215 shares of the company's stock worth $7,365,000 after acquiring an additional 1,430 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Carvana by 81.5% during the fourth quarter. California State Teachers Retirement System now owns 181,249 shares of the company's stock worth $36,859,000 after acquiring an additional 81,414 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Carvana by 16.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company's stock worth $511,000 after acquiring an additional 348 shares during the last quarter. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of Carvana during the fourth quarter worth approximately $839,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

CVNA has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. JMP Securities lowered their price objective on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price objective on shares of Carvana in a research report on Thursday, May 8th. Evercore ISI lowered their price objective on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research report on Tuesday, March 11th. Finally, William Blair reiterated an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and an average target price of $275.65.

Carvana Price Performance

Carvana stock traded down $2.06 during midday trading on Thursday, reaching $343.58. The company's stock had a trading volume of 3,932,092 shares, compared to its average volume of 3,963,531. Carvana Co. has a fifty-two week low of $100.05 and a fifty-two week high of $348.47. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock's 50 day simple moving average is $253.22 and its 200 day simple moving average is $237.20. The firm has a market capitalization of $73.58 billion, a PE ratio of 218.84 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Carvana's quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. On average, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $253.56, for a total transaction of $2,535,600.00. Following the completion of the transaction, the chief operating officer now owns 139,294 shares of the company's stock, valued at $35,319,386.64. The trade was a 6.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $339.58, for a total value of $16,979,000.00. Following the transaction, the insider now directly owns 37,242,317 shares of the company's stock, valued at $12,646,746,006.86. This trade represents a 0.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,016,196 shares of company stock valued at $284,029,665 in the last 90 days. 17.12% of the stock is currently 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.