Landscape Capital Management L.L.C. Takes $1.76 Million Position in Carvana Co. $CVNA

Key Points

• Landscape Capital Management L.L.C. invested approximately $1.76 million in Carvana Co. by acquiring 8,396 shares in the first quarter.
• Carvana reported record earnings of $1.28 EPS for the last quarter, exceeding analyst expectations and achieving a 41.9% year-over-year revenue growth.
• Numerous analysts have recently upgraded Carvana's stock, with Oppenheimer and Needham & Company setting price targets of $450.00 and $500.00 respectively, indicating strong bullish sentiment.

Landscape Capital Management L.L.C. bought a new position 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 & Exchange Commission. The fund bought 8,396 shares of the company's stock, valued at approximately $1,755,000.

Other institutional investors have also recently bought and sold shares of the company. Yousif Capital Management LLC boosted its holdings in Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock valued at $265,000 after acquiring an additional 50 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Carvana by 5.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company's stock valued at $256,000 after buying an additional 60 shares during the last quarter. Commerce Bank increased its position in shares of Carvana by 1.6% during the 1st quarter. Commerce Bank now owns 4,446 shares of the company's stock valued at $930,000 after purchasing an additional 69 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Carvana by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock worth $466,000 after acquiring an additional 72 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after purchasing an additional 82 shares during the period. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the completion of the transaction, the insider directly owned 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. This represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 2,750,257 shares of company stock worth $965,696,611 over the last three months. 16.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on CVNA shares. Oppenheimer raised Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target on the stock in a report on Friday, July 25th. JMP Securities lifted their price objective on Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Stephens lifted their price objective on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Robert W. Baird lifted their price target on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, DA Davidson boosted their target price on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $383.47.

Carvana Price Performance

Shares of NYSE CVNA traded down $6.26 during mid-day trading on Tuesday, reaching $365.66. The company's stock had a trading volume of 1,784,817 shares, compared to its average volume of 4,062,617. The firm has a market capitalization of $78.69 billion, a PE ratio of 91.79, a P/E/G ratio of 1.23 and a beta of 3.51. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The stock has a fifty day moving average of $347.76 and a two-hundred day moving average of $283.29. Carvana Co. has a 52 week low of $124.39 and a 52 week high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business's quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. As a group, sell-side analysts anticipate 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.