Russell Investments Group Ltd. Has $11.97 Million Holdings in Carvana Co. $CVNA

Key Points

• Russell Investments Group Ltd. increased its stake in Carvana Co. by 82.9% in the first quarter, now owning 57,248 shares valued at approximately $11.97 million.
• Research analysts have a positive outlook, with several firms increasing their target prices for Carvana's stock, indicating a consensus of 12 buy ratings and an average target price of $383.47.
• Carvana reported a net margin of 3.46% and a 41.9% increase in revenue year-over-year, surpassing analysts' revenue expectations significantly.

Russell Investments Group Ltd. raised its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 82.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,248 shares of the company's stock after purchasing an additional 25,955 shares during the quarter. Russell Investments Group Ltd.'s holdings in Carvana were worth $11,969,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp raised its stake in Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock valued at $709,000 after purchasing an additional 1,982 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in Carvana in the 4th quarter valued at $51,091,000. Farther Finance Advisors LLC boosted its holdings in Carvana by 333.1% during the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock valued at $740,000 after purchasing an additional 2,678 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Carvana during the 4th quarter worth about $36,527,000. Finally, Brucke Financial Inc. acquired a new stake in shares of Carvana during the 4th quarter worth about $415,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Up 0.3%

CVNA traded up $0.9710 during trading on Thursday, reaching $339.5810. The company had a trading volume of 1,141,125 shares, compared to its average volume of 4,135,002. 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 Co. has a 12 month low of $124.39 and a 12 month high of $413.33. The business's fifty day moving average price is $338.48 and its 200 day moving average price is $277.57. The company has a market cap of $73.08 billion, a P/E ratio of 85.36, a PEG ratio of 1.14 and a beta of 3.57.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The business's revenue was up 41.9% on a year-over-year basis. Equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $346.99, for a total value of $34,699,000.00. Following the transaction, the insider owned 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 3,036,140 shares of company stock valued at $1,057,170,571 over the last 90 days. Insiders own 17.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CVNA shares. Citigroup restated an "outperform" rating on shares of Carvana in a research report on Thursday, July 31st. Wall Street Zen cut shares of Carvana from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Wells Fargo & Company raised their target price on shares of Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research note on Wednesday, July 23rd. Finally, Wedbush raised shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $383.47.

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.