Simon Quick Advisors LLC Acquires New Holdings in Carvana Co. (NYSE:CVNA)

Simon Quick Advisors LLC purchased a new stake in Carvana Co. (NYSE:CVNA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,229 shares of the company's stock, valued at approximately $257,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its holdings in shares of Carvana by 54.9% during the first quarter. Assenagon Asset Management S.A. now owns 592,582 shares of the company's stock worth $123,897,000 after buying an additional 209,975 shares in the last quarter. Integrated Advisors Network LLC bought a new position in shares of Carvana during the 1st quarter worth approximately $773,000. Avanza Fonder AB grew its stake in shares of Carvana by 13.4% during the 1st quarter. Avanza Fonder AB now owns 13,228 shares of the company's stock worth $2,994,000 after acquiring an additional 1,559 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Carvana in the first quarter valued at approximately $167,000. Finally, GAMMA Investing LLC lifted its position in shares of Carvana by 31.4% in the first quarter. GAMMA Investing LLC now owns 1,030 shares of the company's stock worth $215,000 after purchasing an additional 246 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Insiders Place Their Bets

In other news, CEO Ernest C. Garcia III sold 10,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $303.97, for a total transaction of $3,039,700.00. Following the completion of the transaction, the chief executive officer now directly owns 845,000 shares in the company, valued at approximately $256,854,650. This represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory B. Sullivan sold 5,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $332.23, for a total value of $1,661,150.00. Following the sale, the director now directly owns 44,428 shares in the company, valued at approximately $14,760,314.44. This trade represents a 10.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,336,046 shares of company stock worth $401,789,783 over the last three months. Insiders own 17.12% of the company's stock.

Carvana Price Performance

Shares of NYSE CVNA traded down $6.58 during mid-day trading on Monday, reaching $290.45. The company had a trading volume of 5,107,090 shares, compared to its average volume of 3,940,677. The firm has a market cap of $62.20 billion, a price-to-earnings ratio of 185.00 and a beta of 3.65. The business's 50-day simple moving average is $272.91 and its 200 day simple moving average is $240.85. Carvana Co. has a one year low of $100.05 and a one year high of $351.43. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. On average, research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price target on shares of Carvana in a research note on Thursday, May 8th. Evercore ISI reduced their price target on Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research report on Tuesday, March 11th. Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Wedbush upgraded Carvana to a "hold" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company increased their price objective on Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $280.35.

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.