Parkwood LLC Has $9.15 Million Stake in Carvana Co. $CVNA

Parkwood LLC increased its stake in Carvana Co. (NYSE:CVNA) by 3,147.7% in the second quarter, Holdings Channel.com reports. The firm owned 139,000 shares of the company’s stock after purchasing an additional 134,720 shares during the quarter. Parkwood LLC’s holdings in Carvana were worth $9,149,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CVNA. Ascentis Independent Advisors bought a new stake in shares of Carvana in the first quarter valued at about $26,000. Farmers & Merchants Investments Inc. bought a new position in shares of Carvana during the fourth quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC raised its position in Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares during the last quarter. Motiv8 Investments LLC bought a new stake in Carvana in the 4th quarter valued at approximately $33,000. Finally, GoalVest Advisory LLC lifted its stake in Carvana by 400.0% in the 2nd quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock valued at $33,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

Shares of CVNA opened at $73.70 on Thursday. The company has a market cap of $81.10 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 2.75 and a beta of 3.46. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The company’s fifty day simple moving average is $67.80 and its 200 day simple moving average is $68.40. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the company posted $1.51 earnings per share. The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. On average, research analysts forecast that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVNA. BNP Paribas Exane decreased their price target on shares of Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. Citizens Jmp reduced their target price on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group cut their price target on shares of Carvana from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Finally, UBS Group restated a “buy” rating and set a $83.00 price objective on shares of Carvana in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $64.50, for a total transaction of $3,225,000.00. Following the completion of the transaction, the chief operating officer owned 535,709 shares in the company, valued at approximately $34,553,230.50. This trade represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $75.50, for a total value of $1,132,500.00. Following the completion of the sale, the director owned 186,470 shares in the company, valued at $14,078,485. This represents a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 420,897 shares of company stock worth $28,777,664 in the last three months. Insiders own 15.19% of the company’s stock.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.