Spruce House Investment Management LLC Purchases 60,000 Shares of Carvana Co. $CVNA

Spruce House Investment Management LLC boosted its position in Carvana Co. (NYSE:CVNA) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,335,000 shares of the company’s stock after acquiring an additional 60,000 shares during the quarter. Carvana accounts for 26.2% of Spruce House Investment Management LLC’s holdings, making the stock its largest holding. Spruce House Investment Management LLC owned 0.21% of Carvana worth $734,077,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CVNA. First Horizon Corp lifted its position in shares of Carvana by 6.4% during the 4th quarter. First Horizon Corp now owns 418 shares of the company’s stock worth $176,000 after buying an additional 25 shares during the last quarter. Finivi Inc. grew its position in Carvana by 4.6% in the fourth quarter. Finivi Inc. now owns 698 shares of the company’s stock valued at $295,000 after acquiring an additional 31 shares during the last quarter. HB Wealth Management LLC raised its stake in Carvana by 1.0% during the fourth quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock worth $1,346,000 after acquiring an additional 31 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in Carvana by 1.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after acquiring an additional 31 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its holdings in shares of Carvana by 4.8% in the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock worth $294,000 after acquiring an additional 32 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carvana news, Director Ira J. Platt sold 15,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the sale, the director directly owned 186,470 shares in the company, valued at approximately $12,648,260.10. This trade represents a 7.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $68.53, for a total value of $342,650.00. Following the completion of the transaction, the vice president directly owned 144,934 shares of the company’s stock, valued at approximately $9,932,327.02. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 396,962 shares of company stock worth $28,525,088. Corporate insiders own 15.19% of the company’s stock.

Carvana Trading Down 0.0%

NYSE CVNA opened at $60.43 on Monday. The firm has a market capitalization of $66.28 billion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 13.57 and a beta of 3.46. The business’s 50-day moving average price is $66.99 and its two-hundred day moving average price is $71.53. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. On average, analysts expect that Carvana Co. will post 1.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Gordon Haskett raised their price target on shares of Carvana from $67.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price objective on shares of Carvana in a research report on Friday, June 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $92.00 price objective on shares of Carvana in a research note on Friday, June 12th. BNP Paribas Exane raised their target price on shares of Carvana from $77.60 to $85.80 in a research report on Thursday, April 30th. Finally, Bank of America upped their price target on shares of Carvana from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.65.

Carvana Profile

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.