Prospera Financial Services Inc Buys 2,183 Shares of Carvana Co. $CVNA

Prospera Financial Services Inc boosted its stake in shares of Carvana Co. (NYSE:CVNA) by 84.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,757 shares of the company’s stock after purchasing an additional 2,183 shares during the quarter. Prospera Financial Services Inc’s holdings in Carvana were worth $1,603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Warren Street Wealth Advisors LLC raised its position in shares of Carvana by 2.8% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock valued at $388,000 after buying an additional 31 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Carvana by 5.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock valued at $256,000 after acquiring an additional 60 shares during the period. Harbour Investments Inc. raised its holdings in Carvana by 46.5% in the 2nd quarter. Harbour Investments Inc. now owns 208 shares of the company’s stock valued at $70,000 after acquiring an additional 66 shares in the last quarter. Commerce Bank lifted its position in shares of Carvana by 1.6% in the 1st quarter. Commerce Bank now owns 4,446 shares of the company’s stock worth $930,000 after acquiring an additional 69 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Carvana by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock worth $466,000 after purchasing an additional 72 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $323.35, for a total value of $4,122,712.50. Following the completion of the transaction, the chief financial officer directly owned 206,142 shares of the company’s stock, valued at $66,656,015.70. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan S. Keeton sold 32,370 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the transaction, the insider owned 115,456 shares in the company, valued at approximately $34,830,766.08. This trade represents a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 423,000 shares of company stock valued at $153,774,383. 16.36% of the stock is currently owned by company insiders.

Carvana Stock Performance

NYSE CVNA opened at $326.72 on Wednesday. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $413.33. The company has a 50 day moving average of $354.72 and a 200-day moving average of $336.62. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The firm has a market cap of $71.07 billion, a price-to-earnings ratio of 74.59, a PEG ratio of 1.17 and a beta of 3.50.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue was up 54.5% on a year-over-year basis. On average, equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CVNA shares. Piper Sandler boosted their price objective on Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Morgan Stanley set a $450.00 price target on shares of Carvana in a report on Monday, October 20th. JPMorgan Chase & Co. increased their price objective on shares of Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price on the stock in a research report on Friday, July 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $500.00 target price on shares of Carvana in a research note on Thursday, October 30th. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.16.

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.