Simon Quick Advisors LLC Invests $257,000 in Carvana Co. (NYSE:CVNA)

Simon Quick Advisors LLC purchased a new position in Carvana Co. (NYSE:CVNA) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,229 shares of the company’s stock, valued at approximately $257,000.

Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC increased its position in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in Carvana during the fourth quarter valued at $31,000. Venturi Wealth Management LLC increased its position in Carvana by 79.2% during the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock valued at $46,000 after acquiring an additional 99 shares during the last quarter. Transce3nd LLC purchased a new stake in Carvana during the fourth quarter valued at $48,000. Finally, Versant Capital Management Inc increased its position in Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company’s stock valued at $61,000 after acquiring an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. DA Davidson upped their price objective on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Citigroup upped their price target on Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Royal Bank of Canada upped their price target on Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Carvana has a consensus rating of “Moderate Buy” and a consensus price target of $280.35.

Insider Activity at Carvana

In related news, insider Daniel J. Gill sold 25,400 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $350.60, for a total transaction of $8,905,240.00. Following the completion of the transaction, the insider now directly owns 199,756 shares of the company’s stock, valued at approximately $70,034,453.60. This represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.35, for a total value of $10,517,500.00. Following the transaction, the chief operating officer now directly owns 146,278 shares of the company’s stock, valued at approximately $30,769,577.30. The trade was a 25.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,336,046 shares of company stock valued at $401,789,783. Insiders own 17.12% of the company’s stock.

Carvana Stock Performance

NYSE CVNA opened at $296.71 on Monday. The firm has a market cap of $63.54 billion, a price-to-earnings ratio of 188.99 and a beta of 3.65. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The business has a 50-day moving average price of $272.91 and a 200-day moving average price of $240.85. Carvana Co. has a twelve month low of $100.05 and a twelve month high of $351.43.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. As a group, equities research 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.