Raymond James & Associates Raises Position in Carvana Co. (NYSE:CVNA)

Raymond James & Associates grew its position in Carvana Co. (NYSE:CVNA) by 28.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,577 shares of the company’s stock after buying an additional 3,033 shares during the period. Raymond James & Associates’ holdings in Carvana were worth $2,364,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Empirical Asset Management LLC grew its stake in shares of Carvana by 2.0% in the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after acquiring an additional 100 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Carvana by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after acquiring an additional 130 shares during the period. CWM LLC grew its stake in shares of Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares during the period. GAMMA Investing LLC grew its stake in shares of Carvana by 32.8% in the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after acquiring an additional 150 shares during the period. Finally, Great Valley Advisor Group Inc. grew its stake in shares of Carvana by 1.8% in the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after acquiring an additional 182 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on CVNA shares. Wells Fargo & Company lifted their price target on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup boosted their target price on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Stephens assumed coverage on shares of Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price for the company. Needham & Company LLC boosted their target price on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, JMP Securities boosted their target price on shares of Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Carvana has an average rating of “Hold” and a consensus target price of $217.71.

Insiders Place Their Bets

In other Carvana news, insider Paul W. Breaux sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.22, for a total transaction of $7,206,600.00. Following the completion of the transaction, the insider now directly owns 135,025 shares of the company’s stock, valued at approximately $32,435,705.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Paul W. Breaux sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.22, for a total transaction of $7,206,600.00. Following the sale, the insider now owns 135,025 shares of the company’s stock, valued at $32,435,705.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the sale, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,663,934 shares of company stock valued at $453,200,905. 17.18% of the stock is owned by insiders.

Carvana Stock Up 4.3 %

Shares of Carvana stock opened at $235.78 on Wednesday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. Carvana Co. has a 1 year low of $27.75 and a 1 year high of $259.39. The firm’s 50-day moving average is $175.69 and its two-hundred day moving average is $139.81. The stock has a market cap of $48.79 billion, a price-to-earnings ratio of 23,531.00 and a beta of 3.37.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share. As a group, research analysts expect that Carvana Co. will post 0.53 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.