Cvfg LLC Invests $2.77 Million in Carvana Co. $CVNA

Cvfg LLC acquired a new stake in shares of Carvana Co. (NYSE:CVNA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,807 shares of the company’s stock, valued at approximately $2,769,000.

Several other hedge funds have also recently made changes to their positions in CVNA. First Horizon Corp grew its stake in Carvana by 6.4% during the 4th quarter. First Horizon Corp now owns 418 shares of the company’s stock valued at $176,000 after purchasing an additional 25 shares during the last quarter. Finivi Inc. raised its stake in shares of Carvana by 4.6% in the fourth quarter. Finivi Inc. now owns 698 shares of the company’s stock worth $295,000 after purchasing an additional 31 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Carvana by 1.0% in the fourth quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock worth $1,346,000 after purchasing an additional 31 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Carvana by 1.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after purchasing an additional 31 shares during the period. Finally, Insigneo Advisory Services LLC lifted its holdings in shares of Carvana by 4.8% during the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock worth $294,000 after purchasing an additional 32 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Carvana from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Stephens upped their price objective on shares of Carvana from $86.00 to $97.00 in a report on Thursday, April 30th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of Carvana in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $107.40 price objective on shares of Carvana in a research note on Thursday, April 30th. Finally, UBS Group restated a “buy” rating and set a $104.00 target price (up from $97.00) on shares of Carvana in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.14.

Insiders Place Their Bets

In other news, Director Ira J. Platt sold 15,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the sale, the director directly owned 186,470 shares of the company’s stock, valued at $12,648,260.10. This represents a 7.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Taira sold 5,597 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $67.15, for a total value of $375,838.55. Following the sale, the insider owned 315,075 shares in the company, valued at $21,157,286.25. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 396,962 shares of company stock valued at $28,525,088. Insiders own 15.19% of the company’s stock.

Carvana Price Performance

Shares of NYSE CVNA opened at $67.60 on Wednesday. The stock has a market capitalization of $74.15 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 11.88 and a beta of 3.46. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The firm’s 50 day simple moving average is $69.69 and its 200-day simple moving average is $73.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Analysts expect that Carvana Co. will post 1.58 EPS for the current year.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.