Carvana Co. (NYSE:CVNA) Shares Purchased by CoreCap Advisors LLC

CoreCap Advisors LLC boosted its holdings in Carvana Co. (NYSE:CVNA) by 84.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 971 shares of the company’s stock after buying an additional 445 shares during the quarter. CoreCap Advisors LLC’s holdings in Carvana were worth $197,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new position in Carvana in the fourth quarter worth approximately $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Carvana in the fourth quarter worth approximately $31,000. Venturi Wealth Management LLC boosted its stake in Carvana by 79.2% in the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock worth $46,000 after purchasing an additional 99 shares during the period. Finally, Transce3nd LLC acquired a new position in Carvana in the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were 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 directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This represents a 20.30% 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 link. Also, insider Thomas Taira sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $260.00, for a total transaction of $1,300,000.00. Following the transaction, the insider now owns 171,509 shares in the company, valued at $44,592,340. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 347,198 shares of company stock valued at $73,438,671 over the last quarter. 17.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVNA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Carvana in a research note on Thursday. DA Davidson lifted their target price on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler lifted their target price on shares of Carvana from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. Wedbush raised shares of Carvana to a “hold” rating in a research note on Thursday. Finally, Stephens reissued an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $268.59.

Carvana Stock Performance

NYSE:CVNA opened at $268.27 on Monday. The firm’s 50-day moving average is $209.94 and its 200-day moving average is $227.40. Carvana Co. has a 52-week low of $97.55 and a 52-week high of $293.62. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a market cap of $57.19 billion, a price-to-earnings ratio of 170.87 and a beta of 3.61.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Equities research 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.