Edgestream Partners L.P. Has $1.45 Million Holdings in Carvana Co. (NYSE:CVNA)

Edgestream Partners L.P. increased its stake in Carvana Co. (NYSE:CVNA) by 29.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,277 shares of the company’s stock after purchasing an additional 2,559 shares during the period. Edgestream Partners L.P.’s holdings in Carvana were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVNA. Ridgewood Investments LLC acquired a new position in Carvana in the 2nd quarter worth $32,000. Parallel Advisors LLC lifted its position in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares in the last quarter. Summit Securities Group LLC lifted its position in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares in the last quarter. Fifth Third Bancorp lifted its position in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares in the last quarter. Finally, Tidemark LLC bought a new stake in Carvana during the 4th quarter worth about $50,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the insider now owns 40,058,131 shares of the company’s stock, valued at $6,209,010,305. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Daniel J. Gill sold 20,000 shares of Carvana stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the insider now owns 359,370 shares of the company’s stock, valued at $53,905,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the transaction, the insider now directly owns 40,058,131 shares of the company’s stock, valued at approximately $6,209,010,305. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,521,866 shares of company stock valued at $347,083,884. Insiders own 17.12% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. JMP Securities reissued a “market outperform” rating and set a $200.00 price target on shares of Carvana in a research report on Monday, September 9th. Morgan Stanley boosted their price target on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Piper Sandler upped their target price on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, DA Davidson upped their target price on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Carvana has an average rating of “Hold” and an average price target of $153.88.

Carvana Stock Performance

NYSE CVNA opened at $173.78 on Friday. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The firm has a market capitalization of $35.20 billion, a price-to-earnings ratio of 76.22 and a beta of 3.43. The firm’s 50 day simple moving average is $142.36 and its 200 day simple moving average is $114.44. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $176.33.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. As a group, research analysts expect that Carvana Co. will post 0.18 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.