Swiss National Bank Grows Position in Carvana Co. (NYSE:CVNA)

Key Points

• Swiss National Bank increased its stake in Carvana Co. by 1.4% in Q1, holding approximately 326,200 shares valued at $68.2 million.
• Carvana's earnings report for the latest quarter showed an EPS of $1.28, surpassing estimates and reflecting a 41.9% year-over-year revenue growth.
• Recent analyst upgrades have led to an increased average price target for Carvana's stock, with some analysts rating it as a "buy" and setting targets as high as $500.

Swiss National Bank lifted its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 326,200 shares of the company's stock after purchasing an additional 4,400 shares during the quarter. Swiss National Bank owned about 0.15% of Carvana worth $68,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CVNA. N.E.W. Advisory Services LLC purchased a new position in shares of Carvana during the 1st quarter worth $33,000. Transce3nd LLC purchased a new position in shares of Carvana during the 4th quarter worth $48,000. Versant Capital Management Inc grew its holdings in shares of Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after purchasing an additional 82 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Carvana during the 1st quarter worth $90,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Carvana during the 4th quarter valued at about $98,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Citigroup restated an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Gordon Haskett initiated coverage on Carvana in a report on Monday, July 14th. They set a "hold" rating and a $329.00 target price for the company. DA Davidson raised their target price on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Needham & Company LLC raised their target price on Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $379.65.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 12,750 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $371.20, for a total transaction of $4,732,800.00. Following the sale, the chief financial officer owned 191,020 shares of the company's stock, valued at approximately $70,906,624. This trade represents a 6.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $352.12, for a total value of $3,521,200.00. Following the sale, the chief executive officer directly owned 571,440 shares in the company, valued at $201,215,452.80. This trade represents a 1.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,913,047 shares of company stock worth $1,004,044,920. 16.36% of the stock is currently owned by corporate insiders.

Carvana Stock Performance

Shares of CVNA opened at $348.43 on Monday. The stock has a 50-day simple moving average of $337.34 and a 200-day simple moving average of $272.27. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The stock has a market capitalization of $74.98 billion, a PE ratio of 87.33, a PEG ratio of 1.15 and a beta of 3.57. Carvana Co. has a 1 year low of $124.39 and a 1 year high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the company earned ($0.05) EPS. The business's quarterly revenue 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 fiscal year.

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.

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