Roberts Capital Advisors LLC Purchases Shares of 2,739 Carvana Co. (NYSE:CVNA)

Key Points

• Roberts Capital Advisors LLC acquired 2,739 shares of Carvana Co., worth approximately $573,000, indicating growing institutional interest in the company.
• The company's CEO and major shareholder sold significant shares of Carvana, with the CEO selling 10,000 shares for nearly $3.5 million on August 13th.
• Carvana reported earnings per share of $1.28 for the last quarter, exceeding analysts' expectations and showing a year-over-year revenue increase of 41.9%.

Roberts Capital Advisors LLC bought a new position in Carvana Co. (NYSE:CVNA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,739 shares of the company's stock, valued at approximately $573,000.

Several other institutional investors and hedge funds also recently modified their holdings of CVNA. Cresset Asset Management LLC boosted its holdings in Carvana by 32.2% in the first quarter. Cresset Asset Management LLC now owns 3,347 shares of the company's stock valued at $700,000 after purchasing an additional 816 shares during the last quarter. Aberdeen Group plc boosted its holdings in Carvana by 159.8% in the first quarter. Aberdeen Group plc now owns 3,630 shares of the company's stock valued at $759,000 after purchasing an additional 2,233 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Carvana by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 537,028 shares of the company's stock valued at $112,226,000 after purchasing an additional 19,279 shares during the last quarter. Sei Investments Co. raised its stake in Carvana by 21.4% during the first quarter. Sei Investments Co. now owns 31,463 shares of the company's stock valued at $6,545,000 after buying an additional 5,545 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in Carvana by 15.4% during the first quarter. Lord Abbett & CO. LLC now owns 640,418 shares of the company's stock valued at $133,899,000 after buying an additional 85,490 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Buying and Selling at Carvana

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $348.47, for a total transaction of $3,484,700.00. Following the transaction, the chief executive officer directly owned 546,440 shares in the company, valued at $190,417,946.80. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 95,087 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $349.09, for a total value of $33,193,920.83. Following the transaction, the insider owned 34,442,317 shares in the company, valued at approximately $12,023,468,441.53. This trade represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,036,140 shares of company stock valued at $1,056,235,871. 17.12% of the stock is owned by corporate insiders.

Carvana Price Performance

CVNA opened at $350.00 on Friday. The stock has a fifty day moving average of $337.99 and a 200-day moving average of $275.46. The firm has a market capitalization of $75.32 billion, a P/E ratio of 87.72, a PEG ratio of 1.13 and a beta of 3.57. Carvana Co. has a 12-month low of $124.39 and a 12-month high of $413.33. 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 (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The company's revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Equities analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVNA. Morgan Stanley upped their price objective on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Oppenheimer upgraded Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective on the stock in a research note on Friday, July 25th. Gordon Haskett initiated coverage on Carvana in a research report on Monday, July 14th. They set a "hold" rating and a $329.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Carvana from $350.00 to $415.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Robert W. Baird increased their price target on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Carvana presently has a consensus rating of "Moderate Buy" and an average price target of $383.47.

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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