Praxis Investment Management Inc. Raises Holdings in Carvana Co. (NYSE:CVNA)

Praxis Investment Management Inc. lifted its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 56.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,400 shares of the company's stock after acquiring an additional 1,580 shares during the quarter. Praxis Investment Management Inc.'s holdings in Carvana were worth $920,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. United Advisor Group LLC bought a new position in Carvana in the first quarter worth approximately $233,000. Chicago Capital LLC raised its position in shares of Carvana by 30.1% in the 1st quarter. Chicago Capital LLC now owns 7,948 shares of the company's stock worth $1,662,000 after acquiring an additional 1,839 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Carvana in the 1st quarter worth $204,000. Polianta Ltd raised its position in shares of Carvana by 7.8% in the 1st quarter. Polianta Ltd now owns 5,500 shares of the company's stock worth $1,149,000 after acquiring an additional 400 shares in the last quarter. Finally, Net Worth Advisory Group purchased a new stake in shares of Carvana during the 1st quarter worth $442,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Activity at Carvana

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $312.96, for a total value of $3,129,600.00. Following the completion of the transaction, the chief executive officer now owns 731,440 shares of the company's stock, valued at $228,911,462.40. This trade represents a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark W. Jenkins sold 43,433 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total value of $9,089,223.91. Following the completion of the sale, the chief financial officer now owns 214,678 shares in the company, valued at approximately $44,925,665.06. The trade was a 16.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,313,166 shares of company stock worth $398,703,181. Insiders own 16.36% of the company's stock.

Carvana Price Performance

Shares of NYSE CVNA traded up $0.18 during trading on Monday, hitting $320.07. The company had a trading volume of 2,644,034 shares, compared to its average volume of 3,946,815. The firm has a market capitalization of $68.54 billion, a price-to-earnings ratio of 112.24, a price-to-earnings-growth ratio of 1.25 and a beta of 3.65. Carvana Co. has a fifty-two week low of $111.55 and a fifty-two week high of $351.43. The stock has a fifty day simple moving average of $282.80 and a two-hundred day simple moving average of $242.49. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business's revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. On average, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVNA. Needham & Company LLC restated a "buy" rating and set a $340.00 price objective on shares of Carvana in a report on Thursday, May 8th. Evercore ISI lifted their price objective on shares of Carvana from $290.00 to $295.00 and gave the company an "in-line" rating in a research note on Tuesday, June 17th. Stephens reiterated an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a research note on Monday, March 3rd. Wells Fargo & Company boosted their target price on shares of Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley increased their price target on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $283.59.

Carvana 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.