Fund 1 Investments LLC Invests $3.13 Million in Carvana Co. $CVNA

Fund 1 Investments LLC acquired a new stake in shares of Carvana Co. (NYSE:CVNA) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 47,500 shares of the company’s stock, valued at approximately $3,126,000. Carvana accounts for 0.5% of Fund 1 Investments LLC’s investment portfolio, making the stock its 29th largest position.

A number of other large investors have also modified their holdings of CVNA. State Street Corp increased its holdings in Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after buying an additional 2,764,759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Carvana by 345.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock worth $218,867,000 after acquiring an additional 2,579,295 shares during the period. Capital Research Global Investors lifted its holdings in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after acquiring an additional 1,711,144 shares during the period. Bank of America Corp DE boosted its position in shares of Carvana by 372.0% during the 2nd quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock valued at $117,939,000 after acquiring an additional 1,412,188 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Carvana by 8.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after acquiring an additional 1,407,762 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Carvana

In other Carvana news, Director Ira J. Platt sold 15,000 shares of the company’s 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 approximately $12,648,260.10. This represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the sale, the chief financial officer directly owned 1,029,580 shares of the company’s stock, valued at approximately $70,361,497.20. The trade was a 5.83% decrease in their position. 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. Over the last 90 days, insiders sold 420,897 shares of company stock valued at $28,777,664. 15.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CVNA shares. Evercore set a $75.00 target price on shares of Carvana in a research note on Thursday, July 30th. DA Davidson set a $67.00 price target on shares of Carvana in a research note on Thursday, July 30th. Stephens lifted their price objective on Carvana from $86.00 to $97.00 in a report on Thursday, April 30th. Morgan Stanley set a $90.00 price objective on Carvana and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Hovde Group increased their target price on Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

Carvana Stock Down 2.7%

Shares of NYSE:CVNA opened at $73.70 on Thursday. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The company’s fifty day moving average is $67.80 and its 200-day moving average is $68.40. The company has a market capitalization of $81.10 billion, a PE ratio of 40.76, a P/E/G ratio of 2.75 and a beta of 3.46.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter last year, the company posted $1.51 EPS. Equities research analysts predict that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

About Carvana

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.