Allworth Financial LP Raises Stake in Carvana Co. (NYSE:CVNA)

Allworth Financial LP raised its position in shares of Carvana Co. (NYSE:CVNA) by 30.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 511 shares of the company’s stock after purchasing an additional 118 shares during the quarter. Allworth Financial LP’s holdings in Carvana were worth $104,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in Carvana during the fourth quarter valued at approximately $28,000. ORG Wealth Partners LLC purchased a new position in Carvana during the fourth quarter valued at approximately $34,000. Versant Capital Management Inc purchased a new position in Carvana during the fourth quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new position in Carvana during the third quarter valued at approximately $40,000. Finally, First Horizon Advisors Inc. lifted its holdings in Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Activity

In related news, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the sale, the insider now directly owns 151,029 shares of the company’s stock, valued at $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares of the company’s stock, valued at approximately $48,402,338.27. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 173,629 shares of company stock valued at $44,833,799. 17.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CVNA has been the topic of several analyst reports. Wells Fargo & Company lowered their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Robert W. Baird boosted their target price on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. Evercore ISI boosted their target price on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Needham & Company LLC boosted their target price on shares of Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $265.06.

Carvana Trading Down 9.9 %

CVNA stock opened at $223.14 on Monday. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a twelve month low of $49.38 and a twelve month high of $292.84. The stock has a market capitalization of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37. The firm’s fifty day simple moving average is $234.35 and its two-hundred day simple moving average is $208.84.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. As a group, analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Carvana Company 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.