Vident Advisory LLC Buys New Shares in Carvana Co. $CVNA

Key Points

• Vident Advisory LLC has invested $804,000 in Carvana Co., acquiring 3,844 shares of the stock during the first quarter.
• Multiple institutional investors are increasing their holdings in Carvana, with Brooklyn Investment Group raising its stake by 961.5%.
• Analysts have upgraded their ratings for Carvana, with Oppenheimer setting a price target of $450.00 and Needham & Company LLC increasing its target to $500.00.

Vident Advisory LLC acquired a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,844 shares of the company's stock, valued at approximately $804,000.

Other large investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp lifted its holdings in shares of Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after acquiring an additional 1,982 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in Carvana during the fourth quarter worth $51,091,000. Farther Finance Advisors LLC boosted its holdings in shares of Carvana by 333.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock valued at $740,000 after purchasing an additional 2,678 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Carvana in the 4th quarter valued at $36,527,000. Finally, Brucke Financial Inc. bought a new position in shares of Carvana in the 4th quarter valued at $415,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent analyst reports. Citigroup restated an "outperform" rating on shares of Carvana in a research report on Thursday, July 31st. Stephens boosted their target price on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Royal Bank Of Canada raised their price target on shares of Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Gordon Haskett began coverage on shares of Carvana in a report on Monday, July 14th. They set a "hold" rating and a $329.00 price target on the stock. Finally, Needham & Company LLC increased their price objective on shares of Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $383.47.

Carvana Trading Down 0.3%

NYSE CVNA traded down $0.94 on Friday, hitting $369.23. The company's stock had a trading volume of 2,443,272 shares, compared to its average volume of 2,330,485. The company's 50-day moving average is $351.83 and its 200 day moving average is $285.61. The firm has a market cap of $79.46 billion, a PE ratio of 92.54, a PEG ratio of 1.22 and a beta of 3.51. Carvana Co. has a 1-year low of $124.39 and a 1-year high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. Carvana's revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $365.74, for a total transaction of $3,657,400.00. Following the completion of the transaction, the chief executive officer owned 471,440 shares in the company, valued at approximately $172,424,465.60. This trade represents a 2.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Benjamin E. Huston sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $364.66, for a total transaction of $3,646,600.00. Following the completion of the transaction, the chief operating officer owned 104,416 shares in the company, valued at $38,076,338.56. This trade represents a 8.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,522,933 shares of company stock worth $888,062,136. Corporate insiders own 17.12% of the company's stock.

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.