Mediolanum International Funds Ltd Makes New Investment in Carvana Co. (NYSE:CVNA)

Mediolanum International Funds Ltd acquired a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,303 shares of the company's stock, valued at approximately $880,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVNA. Sei Investments Co. lifted its stake in shares of Carvana by 83.9% in the 4th quarter. Sei Investments Co. now owns 25,918 shares of the company's stock valued at $5,270,000 after purchasing an additional 11,826 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Carvana by 7.7% in the 4th quarter. LPL Financial LLC now owns 42,745 shares of the company's stock valued at $8,693,000 after purchasing an additional 3,067 shares during the last quarter. Korea Investment CORP acquired a new position in shares of Carvana in the 4th quarter valued at $14,951,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Carvana by 34,721.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 80,438 shares of the company's stock valued at $16,358,000 after purchasing an additional 80,207 shares during the last quarter. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Carvana in the 4th quarter valued at $447,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Activity

In other news, CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $331.74, for a total value of $3,317,400.00. Following the transaction, the chief executive officer owned 611,440 shares in the company, valued at approximately $202,839,105.60. This represents a 1.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $337.22, for a total value of $16,861,000.00. Following the completion of the transaction, the insider owned 35,542,792 shares in the company, valued at approximately $11,985,740,318.24. The trade was a 0.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,181,515 shares of company stock worth $723,047,948. 16.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVNA. Citigroup upped their price target on Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wedbush raised Carvana to a "hold" rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their price target on Carvana from $310.00 to $390.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. upped their price target on Carvana from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Royal Bank Of Canada increased their target price on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Carvana has an average rating of "Moderate Buy" and a consensus target price of $318.16.

Carvana Price Performance

Shares of NYSE CVNA opened at $336.41 on Tuesday. The stock's 50-day moving average is $329.03 and its two-hundred day moving average is $263.90. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $364.00. The company has a market cap of $72.04 billion, a price-to-earnings ratio of 118.04, a price-to-earnings-growth ratio of 1.28 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share 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 company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the business earned $0.23 EPS. Carvana's revenue was up 38.3% on a year-over-year basis. Analysts forecast 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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