Victory Capital Management Inc. Grows Stock Holdings in Carvana Co. (NYSE:CVNA)

Victory Capital Management Inc. raised its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,476 shares of the company's stock after purchasing an additional 2,631 shares during the period. Victory Capital Management Inc.'s holdings in Carvana were worth $8,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CVNA. Yousif Capital Management LLC boosted its stake in shares of Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after buying an additional 50 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after buying an additional 82 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Carvana by 5.1% in the first quarter. Signaturefd LLC now owns 1,902 shares of the company's stock worth $398,000 after buying an additional 93 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Carvana by 2.3% in the fourth quarter. Cerity Partners LLC now owns 4,314 shares of the company's stock worth $845,000 after buying an additional 99 shares during the last quarter. Finally, CacheTech Inc. boosted its stake in shares of Carvana by 7.8% in the fourth quarter. CacheTech Inc. now owns 1,388 shares of the company's stock worth $282,000 after buying an additional 100 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $337.22, for a total transaction of $16,861,000.00. Following the completion of the sale, the insider owned 35,542,792 shares of the company's stock, valued at $11,985,740,318.24. This trade represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $337.51, for a total value of $3,375,100.00. Following the sale, the chief executive officer directly owned 621,440 shares of the company's stock, valued at approximately $209,742,214.40. This trade represents a 1.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,171,515 shares of company stock valued at $719,730,548. 16.36% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVNA. JPMorgan Chase & Co. upped their target price on Carvana from $325.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 price target on shares of Carvana in a report on Thursday, May 8th. Bank of America upped their price target on Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Evercore ISI upped their price target on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a report on Tuesday, June 24th. Finally, Stephens upped their price target on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and an average target price of $318.16.

Carvana Price Performance

Shares of NYSE:CVNA traded up $5.61 during midday trading on Monday, hitting $337.73. The company had a trading volume of 433,273 shares, compared to its average volume of 4,216,065. Carvana Co. has a twelve month low of $118.50 and a twelve month high of $364.00. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The stock has a market cap of $72.32 billion, a price-to-earnings ratio of 118.54, a price-to-earnings-growth ratio of 1.28 and a beta of 3.59. The business's 50-day simple moving average is $328.40 and its 200-day simple moving average is $262.90.

Carvana (NYSE:CVNA - Get Free Report) last posted 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. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The business's revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. On average, research analysts predict that Carvana Co. will post 2.85 earnings per share for the current 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.