Mitsubishi UFJ Asset Management Co. Ltd. Has $19.70 Million Stock Position in Carvana Co. (NYSE:CVNA)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Carvana Co. by 17.2% in Q1, holding 94,234 shares worth approximately $19.7 million.
• Significant insider sales occurred, with COO Benjamin E. Huston and CEO Ernest C. Garcia III each selling 10,000 shares in early August, reflecting a decrease in their ownership.
• Carvana's stock has seen recent analyst upgrades, with JMP Securities and Bank of America raising their price targets to between $425 and $460, indicating positive sentiment toward the company.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,234 shares of the company's stock after acquiring an additional 13,796 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Carvana were worth $19,702,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp boosted its position in Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after acquiring an additional 1,982 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Carvana during the 4th quarter worth approximately $51,091,000. Farther Finance Advisors LLC boosted its position in Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after acquiring an additional 2,678 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Carvana during the 4th quarter worth approximately $36,527,000. Finally, Brucke Financial Inc. acquired a new position in Carvana during the 4th quarter worth approximately $415,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 10,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $370.55, for a total value of $3,705,500.00. Following the transaction, the chief operating officer owned 116,855 shares in the company, valued at approximately $43,300,620.25. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $352.12, for a total value of $3,521,200.00. Following the completion of the transaction, the chief executive officer owned 571,440 shares in the company, valued at $201,215,452.80. The trade was a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,913,047 shares of company stock valued at $1,004,044,920 in the last quarter. Company insiders own 16.36% of the company's stock.

Carvana Trading Down 2.6%

Shares of Carvana stock opened at $348.43 on Monday. 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 company has a market capitalization of $74.98 billion, a price-to-earnings ratio of 87.33, a P/E/G ratio of 1.15 and a beta of 3.57. The business has a fifty day simple moving average of $337.34 and a two-hundred day simple moving average of $272.27. Carvana Co. has a 1 year low of $124.39 and a 1 year high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. The firm had revenue of $4.84 billion for 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 company's quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. Research analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JMP Securities increased their price objective on Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Bank of America increased their price objective on Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a report on Thursday, July 31st. William Blair reissued an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Piper Sandler increased their price objective on Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Carvana currently has an average rating of "Moderate Buy" and a consensus target price of $379.65.

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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