Sei Investments Co. Has $6.55 Million Holdings in Carvana Co. $CVNA

Key Points

• Sei Investments Co. increased its stake in Carvana by 21.4%, acquiring an additional 5,545 shares, bringing its total holdings to 31,463 shares worth approximately $6.55 million.
• In related news, major shareholder Ernest C. Garcia II sold 100,000 shares for around $34.7 million, reducing his ownership by 0.27%.
• Several analysts have raised their price targets for Carvana, with a consensus rating of "Moderate Buy" and an average price target of $383.47.

Sei Investments Co. grew its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,463 shares of the company's stock after buying an additional 5,545 shares during the quarter. Sei Investments Co.'s holdings in Carvana were worth $6,545,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CVNA. Lord Abbett & CO. LLC raised its holdings in shares of Carvana by 15.4% during the first quarter. Lord Abbett & CO. LLC now owns 640,418 shares of the company's stock worth $133,899,000 after purchasing an additional 85,490 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of Carvana by 39.7% during the first quarter. Neuberger Berman Group LLC now owns 172,153 shares of the company's stock worth $35,994,000 after purchasing an additional 48,903 shares during the period. National Pension Service acquired a new stake in shares of Carvana in the 1st quarter worth about $39,090,000. Russell Investments Group Ltd. increased its holdings in shares of Carvana by 82.9% in the 1st quarter. Russell Investments Group Ltd. now owns 57,248 shares of the company's stock worth $11,969,000 after acquiring an additional 25,955 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its holdings in shares of Carvana by 5.9% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 33,899 shares of the company's stock worth $7,067,000 after acquiring an additional 1,894 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm's stock in a transaction 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 completion of the transaction, the insider directly owned 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 3,036,140 shares of company stock worth $1,056,693,071. 16.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Wells Fargo & Company lifted their price objective on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Needham & Company LLC lifted their price objective on shares of Carvana from $340.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. JMP Securities lifted their price objective on shares of Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. Finally, Wedbush raised shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Carvana presently has an average rating of "Moderate Buy" and an average target price of $383.47.

Carvana Trading Up 2.8%

Carvana stock traded up $9.79 during trading hours on Monday, reaching $359.78. 3,245,760 shares of the company's stock traded hands, compared to its average volume of 4,165,901. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The firm has a market capitalization of $77.42 billion, a price-to-earnings ratio of 90.17, a PEG ratio of 1.16 and a beta of 3.57. The firm's 50 day moving average is $337.99 and its 200-day moving average is $275.89.

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 business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the company posted ($0.05) EPS. Carvana's revenue for the quarter was up 41.9% on a year-over-year basis. On average, analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

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.