Stephens Inc. AR Makes New Investment in Carvana Co. (NYSE:CVNA)

Stephens Inc. AR purchased a new position in Carvana Co. (NYSE:CVNA - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,451 shares of the company's stock, valued at approximately $303,000.

Several other institutional investors also recently added to or reduced their stakes in CVNA. Arizona State Retirement System boosted its stake in Carvana by 1.1% in the 1st quarter. Arizona State Retirement System now owns 33,446 shares of the company's stock valued at $6,993,000 after buying an additional 360 shares in the last quarter. Xponance Inc. boosted its stake in Carvana by 5.0% in the 1st quarter. Xponance Inc. now owns 14,839 shares of the company's stock valued at $3,103,000 after buying an additional 713 shares in the last quarter. LBP AM SA acquired a new stake in Carvana in the 1st quarter valued at $512,000. Stratos Wealth Partners LTD. acquired a new stake in Carvana in the 1st quarter valued at $359,000. Finally, Envestnet Asset Management Inc. boosted its stake in Carvana by 30.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 45,995 shares of the company's stock valued at $9,617,000 after buying an additional 10,753 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVNA. Wells Fargo & Company boosted their price objective on Carvana from $310.00 to $390.00 and gave the stock an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Bank of America boosted their price objective on Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Citigroup boosted their price objective on Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Piper Sandler set a $340.00 price target on Carvana and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $309.44.

Carvana Stock Up 0.3%

NYSE:CVNA opened at $347.25 on Friday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The company has a market cap of $74.36 billion, a PE ratio of 121.84, a PEG ratio of 1.36 and a beta of 3.59. Carvana Co. has a 52-week low of $118.50 and a 52-week high of $364.00. The stock has a 50-day simple moving average of $324.19 and a 200 day simple moving average of $257.42.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly 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. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same period in the prior year, the firm posted $0.23 earnings per share. The business's quarterly revenue was up 38.3% compared to the same quarter last year. On average, sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, insider Daniel J. Gill sold 70,166 shares of Carvana stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the completion of the transaction, the insider directly owned 201,087 shares in the company, valued at approximately $56,591,914.41. The trade was a 25.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Friday, June 6th. The stock was 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 $12,870,663,075.83. This represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,001,515 shares of company stock worth $661,862,748. 17.12% of the stock is owned by company insiders.

Carvana Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.