International Assets Investment Management LLC Invests $5.61 Million in Carvana Co. (NYSE:CVNA)

International Assets Investment Management LLC bought a new stake in Carvana Co. (NYSE:CVNA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,588 shares of the company’s stock, valued at approximately $5,610,000.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in shares of Carvana in the 4th quarter worth approximately $29,000. Vanguard Group Inc. raised its stake in Carvana by 0.7% during the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after buying an additional 62,820 shares during the last quarter. Quantbot Technologies LP acquired a new position in Carvana in the third quarter valued at $2,879,000. Charles Schwab Investment Management Inc. boosted its position in Carvana by 56.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after acquiring an additional 280,851 shares during the last quarter. Finally, TD Asset Management Inc acquired a new stake in Carvana during the 3rd quarter worth about $22,906,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Performance

CVNA stock opened at $116.66 on Wednesday. The business has a 50-day simple moving average of $83.59 and a two-hundred day simple moving average of $57.44. The company has a market capitalization of $23.55 billion, a P/E ratio of 51.17 and a beta of 3.28. Carvana Co. has a 52-week low of $8.86 and a 52-week high of $129.00.

Carvana (NYSE:CVNA) last posted its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the company earned ($0.97) EPS. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts forecast that Carvana Co. will post -3.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CVNA has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Carvana in a research report on Thursday, May 2nd. Robert W. Baird increased their price target on Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. Royal Bank of Canada increased their target price on shares of Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and lifted their price target for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Carvana has an average rating of “Hold” and an average target price of $73.44.

Insiders Place Their Bets

In related news, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $86.75, for a total transaction of $433,750.00. Following the transaction, the vice president now directly owns 62,514 shares of the company’s stock, valued at $5,423,089.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $86.75, for a total value of $433,750.00. Following the completion of the sale, the vice president now owns 62,514 shares in the company, valued at approximately $5,423,089.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $120.35, for a total transaction of $7,221,000.00. Following the completion of the sale, the insider now owns 2,992,500 shares of the company’s stock, valued at approximately $360,147,375. The disclosure for this sale can be found here. Insiders have sold 502,233 shares of company stock valued at $45,421,169 in the last three months. 17.18% of the stock is currently owned by insiders.

About Carvana

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.