Investmentaktiengesellschaft Fuer Langfristige Investoren TGV Acquires 75,000 Shares of Carvana Co. (NYSE:CVNA)

Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its holdings in shares of Carvana Co. (NYSE:CVNAFree Report) by 17.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 500,000 shares of the company’s stock after buying an additional 75,000 shares during the period. Carvana comprises approximately 2.0% of Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings, making the stock its 10th biggest position. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings in Carvana were worth $26,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of CVNA. Blue Trust Inc. acquired a new stake in shares of Carvana during the 4th quarter valued at about $29,000. Hanseatic Management Services Inc. purchased a new position in Carvana in the 3rd quarter valued at about $34,000. Parallel Advisors LLC lifted its stake in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares in the last quarter. Tidemark LLC purchased a new position in Carvana in the 4th quarter valued at about $50,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Carvana in the 3rd quarter valued at about $64,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVNA. Wedbush raised their price target on shares of Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Royal Bank of Canada raised 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. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and raised their target price for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. Finally, Morgan Stanley raised their target price on shares of Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.36.

Read Our Latest Research Report on CVNA

Insider Activity at Carvana

In related news, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $110.25, for a total value of $6,615,000.00. Following the completion of the sale, the insider now owns 1,357,500 shares in the company, valued at approximately $149,664,375. 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, CEO Ernest C. Garcia III sold 9,390 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total value of $777,773.70. Following the completion of the transaction, the chief executive officer now owns 861,458 shares in the company, valued at $71,354,566.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $110.25, for a total transaction of $6,615,000.00. Following the completion of the transaction, the insider now owns 1,357,500 shares of the company’s stock, valued at approximately $149,664,375. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,373,273 shares of company stock worth $145,849,240. Insiders own 17.12% of the company’s stock.

Carvana Stock Performance

Shares of NYSE CVNA traded down $3.68 during midday trading on Friday, reaching $103.06. 2,772,546 shares of the stock were exchanged, compared to its average volume of 3,419,963. The company has a 50 day simple moving average of $99.04 and a 200 day simple moving average of $72.74. The stock has a market capitalization of $20.88 billion, a P/E ratio of 45.20 and a beta of 3.29. Carvana Co. has a twelve month low of $20.60 and a twelve month high of $129.00.

Carvana (NYSE:CVNAGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. On average, research analysts expect that Carvana Co. will post -0.75 earnings per share for the current year.

Carvana Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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