Interval Partners LP Purchases Shares of 1,625 Carvana Co. $CVNA

Key Points

• Interval Partners LP invested approximately $340,000 in Carvana Co. by acquiring 1,625 shares during the first quarter of the year, as disclosed in a recent SEC filing.
• In its most recent quarterly earnings report, Carvana beat analysts' expectations with $1.28 earnings per share and reported revenue of $4.84 billion, a 41.9% increase from the previous year.
• Institutional investors currently hold 56.71% of Carvana's stock, with significant recent activity including a notable 961.5% increase in ownership by Brooklyn Investment Group.

Interval Partners LP purchased a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,625 shares of the company's stock, valued at approximately $340,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CVNA. Price T Rowe Associates Inc. MD increased its position in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after acquiring an additional 1,109,476 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Carvana during the first quarter valued at approximately $71,856,000. Whale Rock Capital Management LLC increased its position in shares of Carvana by 29.8% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after acquiring an additional 278,760 shares in the last quarter. Finally, Contour Asset Management LLC increased its position in shares of Carvana by 71.4% during the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company's stock valued at $134,462,000 after acquiring an additional 267,994 shares in the last quarter. Institutional investors own 56.71% of the company's stock.

Carvana Price Performance

Shares of CVNA traded up $2.85 during trading hours on Tuesday, reaching $375.06. 2,035,686 shares of the stock traded hands, compared to its average volume of 3,999,292. 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 Co. has a 52-week low of $124.39 and a 52-week high of $413.33. The company's 50-day moving average price is $352.50 and its two-hundred day moving average price is $286.91. The company has a market cap of $80.71 billion, a P/E ratio of 94.00, a price-to-earnings-growth ratio of 1.22 and a beta of 3.51.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the previous year, the company earned ($0.05) EPS. Carvana's revenue for the quarter was up 41.9% on a year-over-year basis. On average, analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. William Blair restated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Gordon Haskett assumed coverage on shares of Carvana in a report on Monday, July 14th. They issued a "hold" rating and a $329.00 target price on the stock. JMP Securities raised their target price on shares of Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Carvana currently has an average rating of "Moderate Buy" and a consensus target price of $383.47.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $353.76, for a total value of $35,376,000.00. Following the sale, the insider directly owned 36,437,346 shares in the company, valued at approximately $12,890,075,520.96. The trade was a 0.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of Carvana stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the completion of the sale, the insider owned 6,624 shares in the company, valued at approximately $2,610,915.84. This represents a 93.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,439,157 shares of company stock worth $860,099,657. 16.36% of the stock is owned by corporate 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.