Mitsubishi UFJ Asset Management Co. Ltd. Purchases 13,796 Shares of Carvana Co. (NYSE:CVNA)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Carvana Co. (NYSE:CVNA) by 17.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,234 shares of the company’s stock after purchasing an additional 13,796 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Carvana were worth $19,702,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVNA. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana during the first quarter worth about $33,000. Transce3nd LLC bought a new stake in shares of Carvana during the fourth quarter worth about $48,000. Versant Capital Management Inc lifted its stake in shares of Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company’s stock worth $61,000 after acquiring an additional 82 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Carvana in the first quarter worth approximately $90,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in shares of Carvana in the fourth quarter worth approximately $98,000. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVNA has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on Carvana from $295.00 to $305.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 24th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Gordon Haskett initiated coverage on Carvana in a research note on Monday, July 14th. They issued a “hold” rating and a $329.00 price objective on the stock. Stephens lifted their price objective on Carvana from $300.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Finally, Robert W. Baird boosted their price target on Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $379.65.

Carvana Price Performance

Shares of NYSE:CVNA opened at $348.43 on Monday. The stock’s 50 day moving average is $337.34 and its 200-day moving average is $272.27. Carvana Co. has a twelve month low of $124.39 and a twelve month high of $413.33. The firm has a market capitalization of $74.98 billion, a price-to-earnings ratio of 87.33, a PEG ratio of 1.15 and a beta of 3.57. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Carvana’s revenue was up 41.9% compared to the same quarter last year. Sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $367.34, for a total value of $5,510,100.00. Following the completion of the transaction, the insider owned 113,792 shares in the company, valued at $41,800,353.28. This represents a 11.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $359.63, for a total value of $35,963,000.00. Following the completion of the transaction, the insider owned 34,742,792 shares of the company’s stock, valued at $12,494,550,286.96. This trade represents a 0.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,913,047 shares of company stock valued at $1,004,044,920 in the last three months. Insiders own 16.36% of the company’s stock.

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.