Jacobs Levy Equity Management Inc. Increases Stock Holdings in Carvana Co. $CVNA

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Carvana Co. by 55.8%, now holding 16,496 shares valued at approximately $3.4 million, as reported in its recent SEC filing.
• Insider transactions include CFO Mark W. Jenkins and CEO Ernest C. Garcia III selling portions of their stock holdings, with Jenkins selling 12,750 shares and Garcia selling 10,000 shares.
• Analysts have mixed views on Carvana's stock; while some firms upgraded their price targets, Wall Street Zen downgraded the stock from "buy" to "hold."

Jacobs Levy Equity Management Inc. grew its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 55.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,496 shares of the company's stock after acquiring an additional 5,906 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Carvana were worth $3,449,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CVNA. Bosun Asset Management LLC raised its stake in shares of Carvana by 8.5% in the first quarter. Bosun Asset Management LLC now owns 10,154 shares of the company's stock worth $2,123,000 after purchasing an additional 799 shares during the last quarter. Alight Capital Management LP purchased a new position in shares of Carvana in the first quarter worth about $3,136,000. Alyeska Investment Group L.P. purchased a new position in shares of Carvana in the first quarter worth about $71,856,000. Amundi raised its stake in shares of Carvana by 50.6% in the first quarter. Amundi now owns 353,497 shares of the company's stock worth $73,909,000 after purchasing an additional 118,711 shares during the last quarter. Finally, 3G Capital Partners LP raised its stake in shares of Carvana by 300.0% in the first quarter. 3G Capital Partners LP now owns 140,000 shares of the company's stock worth $29,271,000 after purchasing an additional 105,000 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 10,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $364.66, for a total value of $3,646,600.00. Following the transaction, the chief operating officer owned 104,416 shares of the company's stock, valued at $38,076,338.56. This represents a 8.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ira J. Platt sold 14,000 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $379.14, for a total value of $5,307,960.00. Following the completion of the transaction, the director directly owned 7,231 shares in the company, valued at approximately $2,741,561.34. This trade represents a 65.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,423,157 shares of company stock worth $856,602,667 over the last quarter. Corporate insiders own 17.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Needham & Company LLC lifted their price target on Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Stephens lifted their price target on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. DA Davidson lifted their price target on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. JMP Securities lifted their price target on Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Finally, Oppenheimer upgraded Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target for the company in a research report on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $383.47.

Carvana Price Performance

Shares of CVNA traded up $7.42 during trading hours on Friday, hitting $361.66. 2,873,426 shares of the stock were exchanged, compared to its average volume of 2,366,953. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a 12-month low of $140.23 and a 12-month high of $413.33. The company has a market cap of $77.83 billion, a price-to-earnings ratio of 90.64, a price-to-earnings-growth ratio of 1.17 and a beta of 3.51. The stock's 50-day moving average price is $354.06 and its two-hundred day moving average price is $289.99.

Carvana (NYSE:CVNA - Get Free Report) last issued 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. The company had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm's quarterly revenue was up 41.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. Research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

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.