Vestmark Advisory Solutions Inc. Purchases New Position in Carvana Co. $CVNA

Vestmark Advisory Solutions Inc. acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,730 shares of the company’s stock, valued at approximately $583,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Hilltop National Bank bought a new position in shares of Carvana during the 2nd quarter worth $25,000. Brooklyn Investment Group lifted its stake in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Carvana in the first quarter worth about $33,000. SJS Investment Consulting Inc. grew its holdings in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Carvana during the 2nd quarter valued at about $42,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVNA. Piper Sandler increased their price objective on shares of Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. Evercore ISI reduced their price target on Carvana from $425.00 to $395.00 and set an “in-line” rating for the company in a research report on Thursday, October 30th. Stephens restated an “overweight” rating and set a $440.00 price objective on shares of Carvana in a research note on Tuesday, September 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Carvana in a research report on Thursday, October 30th. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $414.16.

Carvana Stock Performance

Shares of CVNA opened at $326.72 on Wednesday. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The stock has a fifty day moving average price of $354.72 and a 200-day moving average price 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 PE ratio of 74.59, a P/E/G ratio of 1.17 and a beta of 3.50.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $5.04 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 54.5% compared to the same quarter last year. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, Director Gregory B. Sullivan sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $322.20, for a total value of $805,500.00. Following the completion of the transaction, the director directly owned 41,928 shares of the company’s stock, valued at $13,509,201.60. This trade represents a 5.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan S. Keeton sold 32,370 shares of Carvana stock in a transaction that occurred on 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 completion of the sale, the insider owned 115,456 shares of the company’s stock, valued at $34,830,766.08. This trade represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 423,000 shares of company stock valued at $153,774,383. Insiders own 16.36% of the company’s stock.

Carvana 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.