Perbak Capital Partners LLP Takes Position in Carvana Co. $CVNA

Key Points

• Perbak Capital Partners LLP acquired a new stake in Carvana Co., purchasing 975 shares valued at approximately $204,000.
• Carvana's stock has seen significant interest from institutional investors, with several firms increasing their positions, including Contour Asset Management and Point72 Italy S.r.l.
• Carvana reported a strong earnings performance with a revenue increase of 41.9% year-over-year, surpassing analysts' expectations by $0.19 per share with an EPS of $1.28.

Perbak Capital Partners LLP purchased a new stake in Carvana Co. (NYSE:CVNA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 975 shares of the company's stock, valued at approximately $204,000.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Carvana from a "buy" rating to a "hold" rating in a research report on Sunday. JPMorgan Chase & Co. upped their price target on Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. JMP Securities upped their price target on Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Stephens upped their price target on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, Bank of America upped their price target on Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $383.47.

Insider Transactions at Carvana

In other news, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $365.74, for a total transaction of $3,657,400.00. Following the completion of the sale, the chief executive officer owned 471,440 shares of the company's stock, valued at approximately $172,424,465.60. This trade represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.04, for a total value of $361,040.00. Following the sale, the vice president directly owned 45,157 shares of the company's stock, valued at $16,303,483.28. This represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,522,933 shares of company stock worth $888,062,136 over the last ninety days. Corporate insiders own 17.12% of the company's stock.

Carvana Stock Down 0.3%

Shares of CVNA traded down $0.94 during mid-day trading on Friday, hitting $369.23. 2,443,272 shares of the company's stock were exchanged, compared to its average volume of 2,330,485. The company has a market cap of $79.46 billion, a PE ratio of 92.54, a P/E/G ratio of 1.22 and a beta of 3.51. Carvana Co. has a 52 week low of $124.39 and a 52 week high of $413.33. The company has a 50-day simple moving average of $351.83 and a 200 day simple moving average of $285.61. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 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 the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm's revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) EPS. On average, research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal 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.