Counterpoint Mutual Funds LLC Buys New Shares in Carvana Co. $CVNA

Counterpoint Mutual Funds LLC bought a new stake in Carvana Co. (NYSE:CVNA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,023 shares of the company’s stock, valued at approximately $345,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group grew its holdings in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares during the period. N.E.W. Advisory Services LLC bought a new position in Carvana during the first quarter worth about $33,000. Geneos Wealth Management Inc. grew its holdings in Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after purchasing an additional 181 shares during the period. Versant Capital Management Inc grew its holdings in Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company’s stock worth $61,000 after purchasing an additional 82 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in Carvana during the first quarter worth about $90,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Citigroup reiterated an “outperform” rating on shares of Carvana in a report on Thursday, July 31st. Wall Street Zen upgraded Carvana from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Stephens reiterated an “overweight” rating and set a $440.00 price target on shares of Carvana in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Carvana from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, September 17th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $387.88.

Insider Activity

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $390.14, for a total transaction of $3,901,400.00. Following the completion of the sale, the chief executive officer directly owned 411,440 shares in the company, valued at $160,519,201.60. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira J. Platt sold 14,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $379.14, for a total value of $5,307,960.00. Following the sale, the director owned 7,231 shares of the company’s stock, valued at $2,741,561.34. The trade was a 65.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,371,066 shares of company stock worth $843,751,783. Corporate insiders own 17.12% of the company’s stock.

Carvana Stock Down 1.0%

NYSE CVNA opened at $374.42 on Thursday. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $413.33. The company has a 50 day moving average of $358.66 and a 200-day moving average of $299.00. The company has a market cap of $80.58 billion, a price-to-earnings ratio of 93.84, a PEG ratio of 1.24 and a beta of 3.51.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share 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 company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned ($0.05) earnings per share. The firm’s quarterly revenue was up 41.9% on a year-over-year basis. On average, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.