Wealth Enhancement Advisory Services LLC Acquires New Holdings in Carvana Co. (NYSE:CVNA)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Carvana Co. (NYSE:CVNA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,165 shares of the company’s stock, valued at approximately $377,000.

A number of other institutional investors also recently added to or reduced their stakes in CVNA. Quantbot Technologies LP bought a new stake in Carvana during the first quarter valued at about $1,321,000. SG Americas Securities LLC boosted its position in Carvana by 315.6% during the first quarter. SG Americas Securities LLC now owns 9,176 shares of the company’s stock valued at $807,000 after purchasing an additional 6,968 shares in the last quarter. Swiss National Bank boosted its position in Carvana by 7.2% during the first quarter. Swiss National Bank now owns 191,300 shares of the company’s stock valued at $16,817,000 after purchasing an additional 12,800 shares in the last quarter. Headlands Technologies LLC boosted its position in Carvana by 1,109.6% during the first quarter. Headlands Technologies LLC now owns 19,935 shares of the company’s stock valued at $1,752,000 after purchasing an additional 18,287 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in Carvana during the first quarter valued at about $467,000. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Up 1.2 %

Carvana stock opened at $244.35 on Friday. The firm has a market cap of $50.73 billion, a price-to-earnings ratio of 24,435.00 and a beta of 3.37. Carvana Co. has a 52 week low of $27.75 and a 52 week high of $259.39. The business’s 50-day moving average price is $182.63 and its 200 day moving average price is $144.02. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The firm’s revenue was up 31.8% on a year-over-year basis. During the same period last year, the business earned $0.23 earnings per share. As a group, sell-side analysts anticipate that Carvana Co. will post 0.62 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, Director Gregory B. Sullivan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total value of $1,175,000.00. Following the sale, the director now directly owns 53,407 shares of the company’s stock, valued at approximately $12,550,645. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Carvana news, Director Gregory B. Sullivan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total value of $1,175,000.00. Following the sale, the director now directly owns 53,407 shares of the company’s stock, valued at approximately $12,550,645. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $134.06, for a total value of $10,054,500.00. Following the completion of the sale, the insider now directly owns 940,814 shares in the company, valued at approximately $126,125,524.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,810,251 shares of company stock valued at $494,577,629 over the last ninety days. Company insiders own 17.12% of the company’s stock.

Analyst Ratings Changes

CVNA has been the subject of a number of research analyst reports. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Evercore ISI increased their price target on Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. DA Davidson increased their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, BTIG Research increased their price target on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $217.71.

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.