Atria Wealth Solutions Inc. Takes $564,000 Position in Carvana Co. $CVNA

Atria Wealth Solutions Inc. acquired a new stake in shares of Carvana Co. (NYSE:CVNA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,662 shares of the company’s stock, valued at approximately $564,000.

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

Insider Activity

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $371.30, for a total transaction of $37,130,000.00. Following the completion of the transaction, the insider directly owned 35,142,792 shares in the company, valued at approximately $13,048,518,669.60. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 80,000 shares of Carvana stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the transaction, the insider owned 197,832 shares of the company’s stock, valued at $78,917,163.12. The trade was a 28.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,618,292 shares of company stock worth $588,235,207. Insiders own 16.36% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of analyst reports. DA Davidson increased their target price on shares of Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price for the company in a report on Friday, July 25th. Bank of America increased their target price on shares of Carvana from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Gordon Haskett initiated coverage on shares of Carvana in a report on Monday, July 14th. They set a “hold” rating and a $329.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Carvana has a consensus rating of “Moderate Buy” and a consensus target price of $407.44.

Carvana Stock Performance

Shares of CVNA opened at $333.28 on Monday. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The company has a 50-day simple moving average of $364.10 and a two-hundred day simple moving average of $320.89. The firm has a market capitalization of $71.72 billion, a PE ratio of 83.53, a price-to-earnings-growth ratio of 1.08 and a beta of 3.55.

Carvana (NYSE:CVNA) last issued its quarterly earnings data 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 net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the business posted ($0.05) earnings per share. Carvana’s quarterly revenue was up 41.9% compared to the same quarter last year. On average, analysts anticipate that Carvana Co. will post 2.85 EPS 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.