University of Texas Texas AM Investment Management Co. Buys New Shares in Carvana Co. (NYSE:CVNA)

Key Points

• The University of Texas Texas A&M Investment Management Co. purchased 5,829 shares of Carvana Co. for approximately $1.22 million during the first quarter.
• Insider Daniel J. Gill sold 70,166 shares for nearly $19.75 million, resulting in a 25.87% decrease in his ownership of Carvana's stock.
• Carvana reported a 38.3% year-over-year revenue increase for the quarter, with earnings per share beating estimates at $1.51.

University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,829 shares of the company's stock, valued at approximately $1,219,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CVNA. Transce3nd LLC bought a new stake in shares of Carvana in the fourth quarter worth $48,000. Versant Capital Management Inc grew its stake in shares of Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Carvana during the fourth quarter valued at approximately $75,000. Gordian Capital Singapore Pte Ltd bought a new stake in Carvana during the fourth quarter valued at approximately $98,000. Finally, Shell Asset Management Co. bought a new stake in Carvana during the fourth quarter valued at approximately $116,000. 56.71% of the stock is currently owned by institutional investors.

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the completion of the transaction, the insider owned 37,092,317 shares in the company, valued at $12,870,663,075.83. The trade was a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel J. Gill sold 70,166 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $281.43, for a total value of $19,746,817.38. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,273,765 shares of company stock valued at $756,222,904. Corporate insiders own 17.12% of the company's stock.

Carvana Trading Up 16.9%

Shares of Carvana stock traded up $56.22 on Thursday, hitting $389.81. 7,909,896 shares of the company traded hands, compared to its average volume of 4,247,017. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The stock's 50 day moving average price is $330.55 and its 200-day moving average price is $264.88. The company has a market cap of $83.47 billion, a PE ratio of 136.77, a PEG ratio of 1.27 and a beta of 3.59. Carvana Co. has a 52 week low of $118.50 and a 52 week high of $413.34.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the business posted ($0.05) EPS. The company's quarterly revenue was up 41.9% compared to the same quarter last year. Equities research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CVNA shares. Stephens boosted their price target on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Oppenheimer upgraded Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective for the company in a research note on Friday, July 25th. Bank of America upped their price target on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Thursday. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $425.00 target price (up previously from $390.00) on shares of Carvana in a report on Thursday. Finally, Wall Street Zen raised Carvana from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $343.68.

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.