Envestnet Asset Management Inc. Buys 10,753 Shares of Carvana Co. (NYSE:CVNA)

Envestnet Asset Management Inc. grew its holdings in Carvana Co. (NYSE:CVNA) by 30.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,995 shares of the company’s stock after purchasing an additional 10,753 shares during the period. Envestnet Asset Management Inc.’s holdings in Carvana were worth $9,617,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. J.Safra Asset Management Corp increased its holdings in shares of Carvana by 140.8% in the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company’s stock worth $709,000 after purchasing an additional 1,982 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Carvana in the fourth quarter worth $51,091,000. Farther Finance Advisors LLC grew its holdings in shares of Carvana by 333.1% in the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company’s stock worth $740,000 after acquiring an additional 2,678 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Carvana in the fourth quarter worth $36,527,000. Finally, Brucke Financial Inc. bought a new stake in shares of Carvana in the fourth quarter worth $415,000. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

NYSE:CVNA opened at $347.25 on Monday. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The company has a market capitalization of $74.36 billion, a P/E ratio of 121.84, a P/E/G ratio of 1.36 and a beta of 3.59. Carvana Co. has a 12 month low of $118.50 and a 12 month high of $364.00. The business’s 50-day moving average is $324.19 and its 200 day moving average is $257.82.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. On average, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $352.40, for a total transaction of $35,240,000.00. Following the sale, the insider directly owned 35,892,792 shares of the company’s stock, valued at $12,648,619,900.80. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $349.59, for a total value of $3,495,900.00. Following the sale, the chief executive officer directly owned 641,440 shares in the company, valued at $224,241,009.60. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,001,515 shares of company stock worth $661,862,748 over the last quarter. 16.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CVNA. Stephens lifted their price objective on Carvana from $300.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Morgan Stanley lifted their target price on Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. lowered their target price on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Needham & Company LLC reiterated a “buy” rating and set a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Finally, Evercore ISI lifted their target price on Carvana from $295.00 to $305.00 and gave the company an “in-line” rating in a research report on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $309.44.

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.