Aigen Investment Management LP Has $321,000 Stock Position in Carvana Co. (NYSE:CVNA)

Aigen Investment Management LP reduced its stake in Carvana Co. (NYSE:CVNA) by 59.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,535 shares of the company’s stock after selling 2,223 shares during the quarter. Aigen Investment Management LP’s holdings in Carvana were worth $321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp lifted its position in Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company’s stock worth $709,000 after buying an additional 1,982 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Carvana in the 4th quarter valued at about $51,091,000. Farther Finance Advisors LLC grew its position in shares of Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company’s stock worth $740,000 after purchasing an additional 2,678 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Carvana during the 4th quarter worth approximately $36,527,000. Finally, Brucke Financial Inc. acquired a new position in shares of Carvana during the 4th quarter worth approximately $415,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVNA. Robert W. Baird upped their price target on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Wedbush raised shares of Carvana to a “hold” rating in a research note on Thursday, May 8th. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective for the company in a research report on Friday, July 25th. JMP Securities raised their price target on shares of Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Finally, Piper Sandler lifted their price objective on shares of Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $383.47.

Insider Activity

In other news, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $348.47, for a total value of $3,484,700.00. Following the completion of the transaction, the chief executive officer owned 546,440 shares in the company, valued at $190,417,946.80. This trade represents a 1.80% 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, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $344.68, for a total transaction of $17,234,000.00. Following the completion of the transaction, the insider owned 34,620,292 shares of the company’s stock, valued at $11,932,922,246.56. The trade was a 0.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,881,302 shares of company stock worth $1,001,283,751. Insiders own 17.12% of the company’s stock.

Carvana Stock Up 1.5%

CVNA opened at $350.17 on Thursday. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The company’s 50-day moving average is $337.83 and its 200 day moving average is $274.03. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The firm has a market capitalization of $75.36 billion, a P/E ratio of 87.76, a PEG ratio of 1.14 and a beta of 3.57.

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. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm’s revenue was up 41.9% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. 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.