Carvana Co. $CVNA Shares Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stock holdings in Carvana Co. by 69.1%, owning a total of 3,036 shares worth approximately $635,000 at the end of the last quarter.
• Several analysts have enhanced their ratings for Carvana, with Needham & Company raising the target price from $340.00 to $500.00, reflecting a strong bullish sentiment towards the stock.
• Carvana reported $1.28 EPS for the last quarter, surpassing estimates and showing a 41.9% revenue increase year-over-year, indicating robust financial performance.

Townsquare Capital LLC raised its position in Carvana Co. (NYSE:CVNA - Free Report) by 69.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,036 shares of the company's stock after buying an additional 1,241 shares during the period. Townsquare Capital LLC's holdings in Carvana were worth $635,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVNA. Yousif Capital Management LLC lifted its stake in Carvana by 4.1% in the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after purchasing an additional 50 shares in the last quarter. Commerce Bank lifted its stake in Carvana by 1.6% in the 1st quarter. Commerce Bank now owns 4,446 shares of the company's stock worth $930,000 after purchasing an additional 69 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Carvana by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock worth $466,000 after purchasing an additional 72 shares in the last quarter. Versant Capital Management Inc lifted its stake in Carvana by 39.4% in 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 in the last quarter. Finally, IFP Advisors Inc lifted its stake in Carvana by 16.0% in the 1st quarter. IFP Advisors Inc now owns 638 shares of the company's stock worth $133,000 after purchasing an additional 88 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CVNA shares. Wedbush raised shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. Evercore ISI raised their target price on shares of Carvana from $365.00 to $370.00 and gave the stock an "in-line" rating in a research note on Tuesday, August 12th. Bank of America raised their target price on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. William Blair reiterated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Finally, JMP Securities increased their price objective on Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Carvana currently has an average rating of "Moderate Buy" and a consensus price target of $383.47.

Carvana Trading Up 0.2%

Carvana stock traded up $0.7380 during mid-day trading on Thursday, hitting $339.3480. The company's stock had a trading volume of 1,608,167 shares, compared to its average volume of 3,350,515. The firm has a market capitalization of $73.03 billion, a PE ratio of 85.05, a price-to-earnings-growth ratio of 1.12 and a beta of 3.57. Carvana Co. has a 1 year low of $124.39 and a 1 year high of $413.33. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The stock's fifty day moving average is $338.88 and its two-hundred day moving average is $278.17.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm's quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $347.99, for a total value of $3,479,900.00. Following the sale, the chief executive officer owned 531,440 shares of the company's stock, valued at $184,935,805.60. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 95,087 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $349.09, for a total value of $33,193,920.83. Following the completion of the sale, the insider directly owned 34,442,317 shares in the company, valued at approximately $12,023,468,441.53. The trade was a 0.28% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,036,140 shares of company stock worth $1,057,170,571. 17.12% of the stock is owned by corporate insiders.

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.