Korea Investment CORP Has $19.66 Million Position in Carvana Co. $CVNA

Korea Investment CORP boosted its stake in shares of Carvana Co. (NYSE:CVNA) by 27.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 94,018 shares of the company’s stock after buying an additional 20,496 shares during the quarter. Korea Investment CORP’s holdings in Carvana were worth $19,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVNA. Brooklyn Investment Group lifted its holdings in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after buying an additional 125 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Carvana during the 1st quarter worth about $33,000. Transce3nd LLC acquired a new position in Carvana during the 4th quarter worth about $48,000. Versant Capital Management Inc lifted its holdings in Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company’s stock worth $61,000 after buying an additional 82 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Carvana during the 1st quarter worth about $90,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the transaction, the insider directly owned 37,092,317 shares of the company’s stock, valued at approximately $12,870,663,075.83. This represents a 0.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 3,036,140 shares of company stock worth $1,057,170,571. 17.12% of the stock is currently owned by corporate insiders.

Carvana Stock Down 1.5%

CVNA stock opened at $339.1620 on Thursday. The stock’s 50 day simple moving average is $338.48 and its 200 day simple moving average is $277.57. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The company has a market cap of $72.99 billion, a P/E ratio of 85.00, a price-to-earnings-growth ratio of 1.14 and a beta of 3.57.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 41.9% on a year-over-year basis. On average, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

CVNA has been the topic of several research analyst reports. Wall Street Zen lowered Carvana from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Citigroup restated an “outperform” rating on shares of Carvana in a research report on Thursday, July 31st. JPMorgan Chase & Co. upped their target price on Carvana from $350.00 to $415.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Gordon Haskett initiated coverage on Carvana in a research report on Monday, July 14th. They set a “hold” rating and a $329.00 target price on the stock. Finally, Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price on the stock in a research report on Friday, July 25th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $383.47.

Carvana Company 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.