Revolve Wealth Partners LLC Makes New $244,000 Investment in Carvana Co. $CVNA

Key Points

• Revolve Wealth Partners LLC recently invested approximately $244,000 in Carvana Co., acquiring 725 shares during the second quarter.
• Carvana reported a better-than-expected earnings result for the last quarter, with $1.28 EPS and revenues of $4.84 billion, surpassing analyst expectations.
• Major shareholder Ernest C. Garcia II sold significant amounts of shares, totaling over $73 million, reducing his ownership stake by 0.28%.

Revolve Wealth Partners LLC bought a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 725 shares of the company's stock, valued at approximately $244,000.

Other institutional investors have also recently made changes to their positions in the company. J.Safra Asset Management Corp lifted its position in shares of Carvana by 140.8% during the first 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 in the last quarter. Berkshire Capital Holdings Inc. lifted its position in shares of Carvana by 632,200.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company's stock worth $13,220,000 after acquiring an additional 63,220 shares in the last quarter. Praxis Investment Management Inc. lifted its position in shares of Carvana by 56.0% during the first quarter. Praxis Investment Management Inc. now owns 4,400 shares of the company's stock worth $920,000 after acquiring an additional 1,580 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Carvana by 1,791.2% during the first quarter. Hexagon Capital Partners LLC now owns 2,591 shares of the company's stock worth $542,000 after acquiring an additional 2,454 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Carvana during the first quarter worth $359,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Up 2.4%

CVNA opened at $346.30 on Wednesday. The stock has a market cap of $74.52 billion, a PE ratio of 86.79, a P/E/G ratio of 1.10 and a beta of 3.55. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The business's fifty day simple moving average is $364.63 and its 200 day simple moving average is $317.24.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The business 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 firm's revenue was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. As a group, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $371.30, for a total transaction of $37,130,000.00. Following the completion of the sale, the insider directly owned 35,142,792 shares in the company, valued at $13,048,518,669.60. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the sale, the insider owned 6,624 shares of the company's stock, valued at approximately $2,610,915.84. The trade was a 93.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,738,292 shares of company stock valued at $629,362,807 over the last 90 days. 16.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Carvana in a report on Tuesday. Zacks Research raised shares of Carvana from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. JMP Securities upped their price target on shares of Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Oppenheimer raised shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target on the stock in a report on Friday, July 25th. Finally, Stephens reaffirmed an "overweight" rating and issued a $440.00 price target on shares of Carvana in a report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $407.44.

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.

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