Generali Asset Management SPA SGR Sells 4,505 Shares of Carvana Co. $CVNA

Key Points

• Generali Asset Management SPA SGR significantly reduced its stake in Carvana Co., selling 4,505 shares and bringing its total holdings down by 59.2%.
• Major shareholder Ernest C. Garcia II sold 93,376 shares and again 100,000 shares in separate transactions, dramatically reducing his stake in the company.
• Analysts have raised their price targets for Carvana stock, with JMP Securities setting a new target of $460, reflecting positive sentiment following the company's recent earnings report.

Generali Asset Management SPA SGR trimmed its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 59.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,099 shares of the company's stock after selling 4,505 shares during the period. Generali Asset Management SPA SGR's holdings in Carvana were worth $1,044,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVNA. Yousif Capital Management LLC boosted its holdings in shares of Carvana by 4.1% during the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after buying an additional 50 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Carvana by 31.4% during the 1st quarter. GAMMA Investing LLC now owns 1,030 shares of the company's stock worth $215,000 after buying an additional 246 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Carvana during the 1st quarter worth approximately $204,000. United Advisor Group LLC bought a new position in shares of Carvana during the 1st quarter worth approximately $233,000. Finally, Praxis Investment Management Inc. boosted its holdings in shares of Carvana by 56.0% during the 1st quarter. Praxis Investment Management Inc. now owns 4,400 shares of the company's stock worth $920,000 after buying an additional 1,580 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 93,376 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the completion of the transaction, the insider owned 6,624 shares in the company, valued at approximately $2,610,915.84. This represents a 93.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $371.30, for a total value of $37,130,000.00. Following the transaction, the insider owned 35,142,792 shares of the company's stock, valued at $13,048,518,669.60. The trade was a 0.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,678,292 shares of company stock worth $608,812,907. 17.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

CVNA has been the topic of a number of research reports. JMP Securities upped their target price on Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Piper Sandler upped their target price on Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Oppenheimer raised 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. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research report on Wednesday, July 23rd. Finally, DA Davidson upped their target price on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $407.44.

Carvana Trading Down 3.3%

NYSE CVNA opened at $333.28 on Friday. The firm has a market capitalization of $71.72 billion, a P/E ratio of 83.53, a PEG ratio of 1.12 and a beta of 3.55. The business has a fifty day simple moving average of $364.10 and a 200 day simple moving average of $319.28. Carvana Co. has a 12 month low of $148.25 and a 12 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 announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the firm posted ($0.05) EPS. The business's revenue was up 41.9% compared to the same quarter last year. On average, analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal 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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