Genus Capital Management Inc. Takes $6.60 Million Position in Carvana Co. $CVNA

Genus Capital Management Inc. acquired a new stake in shares of Carvana Co. (NYSE:CVNA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,578 shares of the company’s stock, valued at approximately $6,597,000.

Several other institutional investors also recently made changes to their positions in CVNA. Amalgamated Bank grew its stake in shares of Carvana by 3.2% during the 1st quarter. Amalgamated Bank now owns 6,337 shares of the company’s stock valued at $1,325,000 after buying an additional 195 shares during the period. Teacher Retirement System of Texas boosted its position in Carvana by 106.1% during the 1st quarter. Teacher Retirement System of Texas now owns 16,892 shares of the company’s stock worth $3,532,000 after purchasing an additional 8,694 shares during the period. Envestnet Asset Management Inc. boosted its position in Carvana by 30.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 45,995 shares of the company’s stock worth $9,617,000 after purchasing an additional 10,753 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Carvana during the 1st quarter worth $359,000. Finally, LBP AM SA purchased a new stake in Carvana during the 1st quarter worth $512,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Oppenheimer raised shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target for the company in a research report on Friday, July 25th. Evercore ISI decreased their price target on Carvana from $425.00 to $395.00 and set an “in-line” rating for the company in a report on Thursday, October 30th. DA Davidson set a $360.00 price objective on shares of Carvana in a research report on Thursday, October 30th. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. Finally, Citigroup decreased their target price on shares of Carvana from $490.00 to $445.00 and set a “buy” rating for the company in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $415.50.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $359.63, for a total value of $35,963,000.00. Following the completion of the sale, the insider owned 34,742,792 shares of the company’s stock, valued at approximately $12,494,550,286.96. The trade was a 0.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 12,750 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $364.42, for a total transaction of $4,646,355.00. Following the completion of the sale, the chief financial officer directly owned 208,581 shares of the company’s stock, valued at $76,011,088.02. The trade was a 5.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 853,475 shares of company stock worth $304,498,378 over the last three months. Insiders own 16.36% of the company’s stock.

Carvana Stock Performance

Shares of CVNA stock opened at $309.91 on Wednesday. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The firm has a market capitalization of $66.69 billion, a P/E ratio of 70.76, a P/E/G ratio of 1.20 and a beta of 3.50. The company’s fifty day moving average price is $360.77 and its two-hundred day moving average price is $333.43.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. On average, research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Carvana 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.