GAMMA Investing LLC Increases Stock Holdings in Carvana Co. (NYSE:CVNA)

GAMMA Investing LLC lifted its holdings in Carvana Co. (NYSE:CVNA) by 27,368.4% during the first quarter, Holdings Channel reports. The institutional investor owned 215,352 shares of the company’s stock after purchasing an additional 214,568 shares during the quarter. GAMMA Investing LLC’s holdings in Carvana were worth $45,026,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CVNA. Quent Capital LLC purchased a new stake in shares of Carvana in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its stake in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Carvana in the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC boosted its stake in shares of Carvana by 79.2% in the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock valued at $46,000 after buying an additional 99 shares in the last quarter. Finally, Transce3nd LLC purchased a new stake in shares of Carvana in the fourth quarter valued at approximately $48,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVNA. Needham & Company LLC reiterated a “buy” rating and set a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Wells Fargo & Company boosted their target price on Carvana from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Royal Bank of Canada boosted their target price on Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, Evercore ISI decreased their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $275.65.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill sold 70,166 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $281.43, for a total value of $19,746,817.38. Following the completion of the transaction, the insider now directly owns 201,087 shares in the company, valued at approximately $56,591,914.41. This represents a 25.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $325.94, for a total value of $16,297,000.00. Following the completion of the transaction, the insider now owns 37,342,317 shares of the company’s stock, valued at $12,171,354,802.98. The trade was a 0.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 956,196 shares of company stock valued at $263,643,084 over the last three months. 17.12% of the stock is currently owned by insiders.

Carvana Stock Performance

NYSE CVNA opened at $339.97 on Wednesday. Carvana Co. has a fifty-two week low of $97.92 and a fifty-two week high of $341.20. The stock has a market cap of $72.80 billion, a price-to-earnings ratio of 216.54 and a beta of 3.61. The business has a fifty day moving average of $250.40 and a 200-day moving average of $236.45. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. As a group, analysts predict 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.