Victory Capital Management Inc. Has $8.46 Million Position in Carvana Co. (NYSE:CVNA)

Victory Capital Management Inc. raised its position in Carvana Co. (NYSE:CVNA) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,476 shares of the company’s stock after acquiring an additional 2,631 shares during the quarter. Victory Capital Management Inc.’s holdings in Carvana were worth $8,463,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new stake in Carvana in the fourth quarter valued at $48,000. Versant Capital Management Inc lifted its stake in Carvana by 39.4% in 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. Aster Capital Management DIFC Ltd acquired a new stake in shares of Carvana during the 4th quarter worth about $75,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Carvana during the 4th quarter worth about $98,000. Finally, Shell Asset Management Co. acquired a new stake in shares of Carvana during the 4th quarter worth about $116,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $342.96, for a total value of $17,148,000.00. Following the sale, the insider directly owned 35,642,792 shares in the company, valued at approximately $12,224,051,944.32. This trade represents a 0.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ernest C. Garcia III sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $337.51, for a total transaction of $3,375,100.00. Following the completion of the sale, the chief executive officer owned 621,440 shares in the company, valued at approximately $209,742,214.40. The trade was a 1.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,121,515 shares of company stock worth $702,869,548. 17.12% of the stock is currently owned by corporate insiders.

Carvana Price Performance

CVNA stock opened at $326.46 on Friday. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. Carvana Co. has a 12 month low of $118.50 and a 12 month high of $364.00. The firm has a market cap of $69.91 billion, a P/E ratio of 114.55, a P/E/G ratio of 1.33 and a beta of 3.59. The company’s 50-day moving average price is $327.76 and its two-hundred day moving average price is $261.07.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Gordon Haskett assumed coverage on shares of Carvana in a research note on Monday, July 14th. They set a “hold” rating and a $329.00 target price for the company. Evercore ISI raised their target price on shares of Carvana from $295.00 to $305.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 24th. Wells Fargo & Company raised their target price on shares of Carvana from $310.00 to $390.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Wall Street Zen upgraded shares of Carvana from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Finally, Wedbush upgraded shares of Carvana to a “hold” rating in a research note on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average target price of $310.83.

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.