Charles Schwab Investment Management Inc. Raises Stock Holdings in Carvana Co. (NYSE:CVNA)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 490,874 shares of the company’s stock after purchasing an additional 27,912 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.23% of Carvana worth $102,632,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CVNA. Vanguard Group Inc. lifted its position in Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after buying an additional 1,109,476 shares during the last quarter. Castle Hook Partners LP bought a new stake in Carvana in the 4th quarter worth approximately $116,020,000. BNP Paribas Financial Markets lifted its position in Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock worth $207,086,000 after buying an additional 481,912 shares during the last quarter. Whale Rock Capital Management LLC lifted its position in Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock worth $247,017,000 after buying an additional 278,760 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in Carvana in the 4th quarter worth approximately $51,091,000. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

CVNA opened at $345.77 on Wednesday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a 52-week low of $124.39 and a 52-week high of $413.33. The stock has a market capitalization of $74.41 billion, a PE ratio of 86.66, a price-to-earnings-growth ratio of 1.14 and a beta of 3.57. The stock’s 50 day moving average price is $337.74 and its 200-day moving average price is $273.50.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. The business’s revenue was up 41.9% compared to the same quarter last year. On average, equities research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CVNA shares. Royal Bank Of Canada boosted their target price on Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price for the company in a research report on Friday, July 25th. Gordon Haskett initiated coverage on Carvana in a research report on Monday, July 14th. They issued a “hold” rating and a $329.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Carvana from $350.00 to $415.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Robert W. Baird boosted their price objective on Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $383.47.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 93,376 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total value of $36,805,084.16. Following the completion of the transaction, the insider owned 6,624 shares in the company, valued at approximately $2,610,915.84. This represents a 93.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the completion of the transaction, the insider owned 37,092,317 shares of the company’s stock, valued at approximately $12,870,663,075.83. This trade represents a 0.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,861,302 shares of company stock valued at $994,352,651. 16.36% of the stock is owned by corporate 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.