Focus Partners Advisor Solutions LLC Acquires 1,321 Shares of Carvana Co. $CVNA

Focus Partners Advisor Solutions LLC increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 42.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,461 shares of the company’s stock after purchasing an additional 1,321 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Carvana were worth $1,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CVNA. Price T Rowe Associates Inc. MD lifted its position in shares of Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after buying an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after buying an additional 1,109,476 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Carvana during the 1st quarter worth $71,856,000. Contour Asset Management LLC lifted its position in shares of Carvana by 71.4% during the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock worth $134,462,000 after buying an additional 267,994 shares during the last quarter. Finally, National Pension Service bought a new stake in shares of Carvana during the 1st quarter worth $39,090,000. 56.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of recent research reports. Gordon Haskett initiated coverage on Carvana in a report on Monday, July 14th. They issued a “hold” rating and a $329.00 target price for the company. BTIG Research reaffirmed a “buy” rating and issued a $450.00 target price on shares of Carvana in a report on Friday, October 17th. DA Davidson upped their target price on Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Evercore ISI upped their target price on Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a report on Tuesday, August 12th. Finally, Wall Street Zen cut Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $419.94.

Carvana Trading Up 2.7%

Shares of CVNA stock opened at $351.33 on Monday. The stock has a market cap of $75.61 billion, a price-to-earnings ratio of 88.05, a PEG ratio of 1.12 and a beta of 3.55. The stock has a 50-day moving average of $363.68 and a 200-day moving average of $326.56. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $413.33.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the firm posted ($0.05) earnings per share. The firm’s revenue was up 41.9% on a year-over-year basis. On average, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In related news, CEO Ernest C. Garcia III sold 2,880 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $355.19, for a total transaction of $1,022,947.20. Following the completion of the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at $124,316,500. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 12,750 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total value of $4,963,192.50. Following the sale, the chief financial officer directly owned 207,362 shares of the company’s stock, valued at $80,719,805.74. This represents a 5.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,438,292 shares of company stock valued at $527,769,407 over the last ninety days. Insiders own 16.36% of the company’s stock.

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.