Westmount Partners LLC Acquires New Shares in Carvana Co. (NYSE:CVNA)

Westmount Partners LLC bought a new position in shares of Carvana Co. (NYSE:CVNA) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,025 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds have also recently bought and sold shares of CVNA. Atria Investments Inc bought a new stake in shares of Carvana during the 4th quarter worth $240,000. Independent Advisor Alliance bought a new stake in Carvana during the fourth quarter valued at about $306,000. HighTower Advisors LLC grew its position in shares of Carvana by 179.7% in the fourth quarter. HighTower Advisors LLC now owns 4,035 shares of the company’s stock valued at $821,000 after purchasing an additional 9,098 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after purchasing an additional 74 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Carvana by 418.7% during the 4th quarter. Farther Finance Advisors LLC now owns 804 shares of the company’s stock worth $164,000 after purchasing an additional 649 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In related news, insider Daniel J. Gill sold 70,166 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the sale, the insider directly owned 201,087 shares in the company, valued at $56,591,914.41. This represents a 25.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Friday, June 6th. The shares were sold at an average price of $346.99, for a total value of $34,699,000.00. Following the completion of the transaction, the insider owned 37,092,317 shares of the company’s stock, valued at approximately $12,870,663,075.83. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,626,961 shares of company stock worth $531,064,642 over the last ninety days. Corporate insiders own 16.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CVNA. JPMorgan Chase & Co. lowered their target price on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Evercore ISI raised their price objective on shares of Carvana from $295.00 to $305.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 24th. Needham & Company LLC reiterated a “buy” rating and set a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. JMP Securities set a $440.00 price target on shares of Carvana and gave the company a “market outperform” rating in a report on Wednesday, July 2nd. Finally, Stephens raised their price target on shares of Carvana from $300.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and an average price target of $303.59.

Carvana Price Performance

Shares of CVNA stock opened at $343.33 on Monday. The stock’s fifty day simple moving average is $315.96 and its 200 day simple moving average is $252.86. Carvana Co. has a one year low of $118.50 and a one year high of $364.00. The firm has a market cap of $73.52 billion, a price-to-earnings ratio of 120.47, a P/E/G ratio of 1.34 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. On average, analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.