LPL Financial LLC Has $8.69 Million Position in Carvana Co. (NYSE:CVNA)

LPL Financial LLC grew its holdings in Carvana Co. (NYSE:CVNA) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,745 shares of the company’s stock after buying an additional 3,067 shares during the quarter. LPL Financial LLC’s holdings in Carvana were worth $8,693,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quent Capital LLC acquired a new stake in Carvana in the 4th quarter valued at about $28,000. Global Retirement Partners LLC grew its stake in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Carvana in the fourth quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new position in Carvana in the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc acquired a new position in Carvana during the 4th quarter worth $42,000. 56.71% of the stock is owned by institutional investors.

Carvana Trading Down 10.6 %

NYSE:CVNA opened at $162.54 on Friday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The business’s 50-day simple moving average is $223.47 and its 200-day simple moving average is $218.92. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The stock has a market capitalization of $34.65 billion, a PE ratio of 103.53 and a beta of 3.61.

Carvana (NYSE:CVNA) last announced its quarterly earnings results 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 firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 43,433 shares of Carvana stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total value of $9,089,223.91. Following the sale, the chief financial officer now directly owns 214,678 shares in the company, valued at $44,925,665.06. This trade represents a 16.83 % 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, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the transaction, the chief operating officer now owns 196,278 shares of the company’s stock, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 280,810 shares of company stock valued at $61,698,820. 17.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Stephens reissued an “overweight” rating and set a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $258.59.

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.