XTX Topco Ltd Makes New Investment in Carvana Co. (NYSE:CVNA)

Key Points

• XTX Topco Ltd has made a significant investment of approximately $3.92 million by purchasing 18,752 shares of Carvana Co. during the first quarter.
• Insider activity includes the CFO, Mark W. Jenkins, selling 51,380 shares valued at over $16.75 million, while major shareholder Ernest C. Garcia II sold 100,000 shares for approximately $34.7 million.
• Carvana's stock has seen a rebound, with various analysts raising their price targets, including a high of $440 from JMP Securities, indicating a strong overall market sentiment towards the company.

XTX Topco Ltd purchased a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,752 shares of the company's stock, valued at approximately $3,921,000.

A number of other large investors have also modified their holdings of the business. J.Safra Asset Management Corp boosted its position in Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock valued at $709,000 after buying an additional 1,982 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Carvana in the fourth quarter valued at approximately $51,091,000. Farther Finance Advisors LLC boosted its position in Carvana by 333.1% in the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock valued at $740,000 after buying an additional 2,678 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Carvana in the fourth quarter valued at approximately $36,527,000. Finally, Brucke Financial Inc. purchased a new stake in Carvana in the fourth quarter valued at approximately $415,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was 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 directly owned 37,092,317 shares of the company's stock, valued at $12,870,663,075.83. This trade represents a 0.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 51,380 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $326.03, for a total value 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 $52,842,616.37. This trade represents a 24.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,301,515 shares of company stock valued at $763,286,804. 17.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CVNA shares. Wall Street Zen upgraded Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Wells Fargo & Company upped their price objective on Carvana from $310.00 to $390.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. upped their price objective on Carvana from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Royal Bank Of Canada upped their price objective on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Wedbush upgraded Carvana to a "hold" rating in a research report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $318.16.

Carvana Price Performance

Shares of NYSE:CVNA traded down $3.04 during midday trading on Wednesday, reaching $333.46. 3,881,146 shares of the company's stock traded hands, compared to its average volume of 2,394,991. The company has a fifty day simple moving average of $330.55 and a two-hundred day simple moving average of $264.88. Carvana Co. has a 1 year low of $118.50 and a 1 year high of $364.00. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The company has a market cap of $71.41 billion, a P/E ratio of 117.00, a PEG ratio of 1.27 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data 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 return on equity of 44.86% and a net margin of 2.68%. During the same period in the prior year, the company posted ($0.05) earnings per share. The company's quarterly revenue was up 41.9% compared to the same quarter last year. Equities analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.