Hexagon Capital Partners LLC Acquires 2,454 Shares of Carvana Co. (NYSE:CVNA)

Hexagon Capital Partners LLC raised its stake in Carvana Co. (NYSE:CVNA - Free Report) by 1,791.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,591 shares of the company's stock after purchasing an additional 2,454 shares during the period. Hexagon Capital Partners LLC's holdings in Carvana were worth $542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in CVNA. Teacher Retirement System of Texas lifted its holdings in Carvana by 106.1% during the 1st quarter. Teacher Retirement System of Texas now owns 16,892 shares of the company's stock worth $3,532,000 after buying an additional 8,694 shares during the last quarter. Smith Group Asset Management LLC increased its position in Carvana by 3.6% during the 1st quarter. Smith Group Asset Management LLC now owns 2,910 shares of the company's stock worth $608,000 after purchasing an additional 100 shares during the period. Vontobel Holding Ltd. acquired a new position in Carvana during the first quarter worth $1,623,000. J.Safra Asset Management Corp increased its holdings in Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock valued at $709,000 after buying an additional 1,982 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Carvana by 3.2% during the 1st quarter. Amalgamated Bank now owns 6,337 shares of the company's stock worth $1,325,000 after buying an additional 195 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of recent research reports. Piper Sandler set a $340.00 target price on shares of Carvana and gave the company an "overweight" rating in a report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. Citigroup upped their target price on Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday. Bank of America upped their price target on Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Wedbush raised shares of Carvana to a "hold" rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Carvana presently has an average rating of "Moderate Buy" and an average price target of $303.59.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $340.07, for a total value of $17,003,500.00. Following the completion of the sale, the insider directly owned 36,637,346 shares of the company's stock, valued at $12,459,262,254.22. This represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 12,750 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $338.36, for a total transaction of $4,314,090.00. Following the transaction, the chief financial officer directly owned 211,020 shares in the company, valued at $71,400,727.20. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,406,961 shares of company stock worth $453,477,396. 16.36% of the stock is currently owned by company insiders.

Carvana Price Performance

Shares of NYSE CVNA traded down $11.42 during mid-day trading on Tuesday, reaching $345.90. The company had a trading volume of 2,831,081 shares, compared to its average volume of 3,859,151. The company has a 50-day moving average price of $310.23 and a two-hundred day moving average price of $250.09. The stock has a market cap of $74.07 billion, a PE ratio of 121.37, a P/E/G ratio of 1.39 and a beta of 3.59. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $363.38.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the company earned $0.23 EPS. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities analysts anticipate 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.