Carvana Co. $CVNA Shares Sold by RV Capital AG

Key Points

• RV Capital AG reduced its stake in Carvana Co. by 6.8% during Q2, now holding 510,352 shares valued at $171.97 million, making it the firm's largest investment.
• Major shareholder Ernest C. Garcia II sold 100,000 shares for approximately $35 million, resulting in a significant decrease in his ownership share of the company.
• Carvana's stock has been positively rated by multiple analysts, with price targets raised and a current average rating of "Moderate Buy."

RV Capital AG decreased its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 510,352 shares of the company's stock after selling 37,162 shares during the quarter. Carvana comprises about 31.8% of RV Capital AG's portfolio, making the stock its biggest holding. RV Capital AG owned about 0.24% of Carvana worth $171,968,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CVNA. MRA Advisory Group acquired a new position in Carvana during the second quarter worth $707,000. Amanah Holdings Trust bought a new position in shares of Carvana in the 2nd quarter valued at about $30,703,000. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Carvana during the 1st quarter worth about $1,448,000. Swedbank AB lifted its stake in Carvana by 29.2% in the 1st quarter. Swedbank AB now owns 69,013 shares of the company's stock valued at $14,429,000 after purchasing an additional 15,600 shares during the last quarter. Finally, Strs Ohio bought a new position in Carvana during the first quarter worth about $852,000. 56.71% of the stock is owned by institutional investors.

Carvana Stock Performance

Shares of NYSE:CVNA traded down $0.83 on Tuesday, reaching $364.52. 1,178,303 shares of the company's stock were exchanged, compared to its average volume of 2,239,492. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The company has a fifty day moving average of $354.58 and a 200-day moving average of $292.28. The company has a market capitalization of $78.44 billion, a price-to-earnings ratio of 91.36, a PEG ratio of 1.21 and a beta of 3.51. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. The business had revenue of $4.84 billion during 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 for the quarter was up 41.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. On average, research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity at Carvana

In related news, major shareholder Ernest C. Garcia II sold 93,376 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $2,610,915.84. This trade represents a 93.38% decrease in their position. 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 100,000 shares of Carvana stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $353.76, for a total transaction of $35,376,000.00. Following the completion of the transaction, the insider directly owned 36,437,346 shares in the company, valued at $12,890,075,520.96. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,426,037 shares of company stock valued at $858,033,955 over the last 90 days. Corporate insiders own 16.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVNA. Evercore ISI raised their price objective on Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a research report on Tuesday, August 12th. Royal Bank Of Canada upped their price objective on shares of Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Gordon Haskett began coverage on shares of Carvana in a research note on Monday, July 14th. They set a "hold" rating and a $329.00 target price for the company. William Blair reaffirmed an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Finally, Piper Sandler increased their price target on shares of Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Carvana has a consensus rating of "Moderate Buy" and a consensus 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.