Senator Investment Group LP Acquires 953,296 Shares of Carvana Co. $CVNA

Senator Investment Group LP increased its holdings in Carvana Co. (NYSE:CVNA) by 516.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,137,870 shares of the company’s stock after buying an additional 953,296 shares during the quarter. Carvana accounts for about 2.7% of Senator Investment Group LP’s investment portfolio, making the stock its 12th largest position. Senator Investment Group LP owned approximately 0.10% of Carvana worth $74,895,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Ascentis Independent Advisors purchased a new stake in Carvana during the first quarter valued at approximately $26,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Carvana during the 4th quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after acquiring an additional 58 shares during the period. Transamerica Financial Advisors LLC increased its stake in shares of Carvana by 558.0% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock worth $30,000 after purchasing an additional 385 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in shares of Carvana in the 4th quarter worth $33,000. 56.71% of the stock is currently owned by institutional investors.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $68.55, for a total transaction of $3,427,500.00. Following the completion of the sale, the chief operating officer owned 458,755 shares in the company, valued at approximately $31,447,655.25. This trade represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $75.50, for a total value of $1,132,500.00. Following the sale, the director owned 186,470 shares of the company’s stock, valued at $14,078,485. This represents a 7.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 302,147 shares of company stock valued at $20,418,064. 15.19% of the stock is owned by corporate insiders.

Carvana Stock Up 0.3%

CVNA opened at $74.24 on Monday. The stock has a market cap of $81.70 billion, a price-to-earnings ratio of 41.06, a price-to-earnings-growth ratio of 2.69 and a beta of 3.46. 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 firm’s fifty day moving average is $68.10 and its 200 day moving average is $68.34. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38.

Carvana (NYSE:CVNA) last issued its quarterly 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 analyst estimates of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.Carvana’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.51 EPS. On average, sell-side analysts forecast that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank Of Canada set a $82.00 target price on Carvana and gave the company an “outperform” rating in a research report on Thursday, July 30th. Robert W. Baird set a $72.00 price target on Carvana in a research report on Thursday, July 30th. Argus decreased their price objective on Carvana from $500.00 to $100.00 in a research note on Monday, May 11th. Hovde Group lifted their price objective on Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a research report on Tuesday, August 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $120.00 price objective on shares of Carvana in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

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.