Tabor Asset Management LP Purchases New Shares in Carvana Co. (NYSE:CVNA)

Tabor Asset Management LP purchased a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,272 shares of the company's stock, valued at approximately $1,520,000.

Several other institutional investors have also added to or reduced their stakes in CVNA. J.Safra Asset Management Corp increased its stake in shares of Carvana by 140.8% in the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock valued at $709,000 after purchasing an additional 1,982 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Carvana during the 4th quarter worth $51,091,000. Farther Finance Advisors LLC grew its position in Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after acquiring an additional 2,678 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Carvana during the 4th quarter worth $36,527,000. Finally, Brucke Financial Inc. bought a new stake in Carvana during the 4th quarter worth $415,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Trading Down 1.2%

Shares of NYSE:CVNA traded down $4.02 on Monday, reaching $343.51. 221,702 shares of the company traded hands, compared to its average volume of 3,762,706. The business's 50-day simple moving average is $324.19 and its 200 day simple moving average is $257.82. Carvana Co. has a 52 week low of $118.50 and a 52 week high of $364.00. The stock has a market capitalization of $73.56 billion, a P/E ratio of 120.82, a price-to-earnings-growth ratio of 1.36 and a beta of 3.59. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the business posted $0.23 earnings per share. Carvana's quarterly revenue was up 38.3% compared to the same quarter last year. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred 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 sale, the insider owned 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. The trade was a 0.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 51,380 shares of Carvana stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $326.03, for a total transaction of $16,751,421.40. Following the completion of the sale, the chief financial officer directly owned 162,079 shares of the company's stock, valued at approximately $52,842,616.37. This trade represents a 24.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,001,515 shares of company stock worth $661,862,748 in the last three months. Insiders own 16.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CVNA shares. Royal Bank Of Canada upped their price target on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Wedbush upgraded Carvana to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their price objective on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Gordon Haskett initiated coverage on Carvana in a research note on Monday, July 14th. They issued a "hold" rating and a $329.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $340.00 price target on shares of Carvana in a research note on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Carvana presently has a consensus rating of "Moderate Buy" and a consensus target price of $310.83.

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.

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