QRG Capital Management Inc. Has $617,000 Position in Carvana Co. (NYSE:CVNA)

QRG Capital Management Inc. lowered its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 50.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,952 shares of the company's stock after selling 3,030 shares during the period. QRG Capital Management Inc.'s holdings in Carvana were worth $617,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after buying an additional 610,234 shares during the period. Lingotto Investment Management LLP boosted its stake in shares of Carvana by 1.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after buying an additional 57,215 shares during the period. Durable Capital Partners LP lifted its stake in shares of Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after purchasing an additional 129,246 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after purchasing an additional 75,250 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its stake in shares of Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after purchasing an additional 278,760 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVNA shares. Piper Sandler set a $340.00 price objective on shares of Carvana and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Bank of America lifted their price objective on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. reduced their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Wedbush raised shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley lifted their price objective on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $283.59.

Insider Transactions at Carvana

In other Carvana news, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $253.56, for a total transaction of $2,535,600.00. Following the transaction, the chief operating officer now directly owns 139,294 shares in the company, valued at approximately $35,319,386.64. The trade was a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $325.16, for a total transaction of $16,258,000.00. Following the sale, the insider now owns 37,342,317 shares in the company, valued at $12,142,227,795.72. This trade represents a 0.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,343,166 shares of company stock worth $403,944,081. 17.12% of the stock is currently owned by company insiders.

Carvana Stock Performance

NYSE:CVNA opened at $321.06 on Friday. The firm's 50-day moving average is $282.80 and its 200-day moving average is $242.58. Carvana Co. has a 52-week low of $111.55 and a 52-week high of $351.43. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The company has a market cap of $68.75 billion, a price-to-earnings ratio of 112.65, a PEG ratio of 1.25 and a beta of 3.65.

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

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