V Square Quantitative Management LLC Takes Position in Carvana Co. $CVNA

V Square Quantitative Management LLC acquired a new stake in shares of Carvana Co. (NYSE:CVNA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 245 shares of the company’s stock, valued at approximately $83,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after buying an additional 1,109,476 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Carvana by 1.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock valued at $144,835,000 after buying an additional 9,694 shares during the period. Northern Trust Corp increased its position in shares of Carvana by 5.4% during the first quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock valued at $143,400,000 after buying an additional 35,168 shares during the period. Finally, Contour Asset Management LLC increased its position in shares of Carvana by 71.4% during the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock valued at $134,462,000 after buying an additional 267,994 shares during the period. 56.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CVNA shares. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, September 17th. Royal Bank Of Canada boosted their price target on shares of Carvana from $400.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Gordon Haskett started coverage on shares of Carvana in a research report on Monday, July 14th. They set a “hold” rating and a $329.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Stephens reiterated an “overweight” rating and set a $440.00 price target on shares of Carvana in a research report on Tuesday, September 23rd. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $404.94.

Insider Activity

In related news, CEO Ernest C. Garcia III sold 3,802 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $392.98, for a total transaction of $1,494,109.96. Following the transaction, the chief executive officer owned 376,440 shares in the company, valued at $147,933,391.20. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total transaction of $390,140.00. Following the transaction, the vice president owned 43,513 shares in the company, valued at approximately $16,976,161.82. This trade represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,307,066 shares of company stock valued at $827,792,454. Company insiders own 17.12% of the company’s stock.

Carvana Trading Down 0.2%

NYSE:CVNA opened at $394.49 on Friday. The company’s 50 day moving average price is $363.74 and its 200-day moving average price is $307.57. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The stock has a market cap of $84.89 billion, a price-to-earnings ratio of 98.87, a PEG ratio of 1.30 and a beta of 3.55.

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

Carvana 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.