1,500 Shares in Carvana Co. $CVNA Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new position in shares of Carvana Co. (NYSE:CVNA) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,500 shares of the company’s stock, valued at approximately $505,000.

Other large investors have also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new position in Carvana during the second quarter worth about $25,000. Brooklyn Investment Group raised its holdings in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Carvana during the first quarter worth about $33,000. SJS Investment Consulting Inc. raised its holdings in Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Carvana during the second quarter worth about $42,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVNA has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Carvana in a report on Tuesday, October 14th. Royal Bank Of Canada increased their target price on shares of Carvana from $400.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Stephens reaffirmed an “overweight” rating and issued a $440.00 target price on shares of Carvana in a report on Tuesday, September 23rd. Evercore ISI increased their target price on shares of Carvana from $365.00 to $370.00 and gave the company an “in-line” rating in a report on Tuesday, August 12th. Finally, Wall Street Zen cut shares of Carvana from a “buy” rating to a “hold” rating in a report on Sunday. One investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $407.44.

Carvana Trading Down 3.3%

Shares of Carvana stock opened at $333.28 on Monday. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The business has a 50 day moving average price of $364.10 and a 200 day moving average price of $320.89. The company has a market capitalization of $71.72 billion, a P/E ratio of 83.53, a P/E/G ratio of 1.08 and a beta of 3.55.

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

Insiders Place Their Bets

In other Carvana news, insider Daniel J. Gill sold 80,000 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the completion of the transaction, the insider owned 197,832 shares of the company’s stock, valued at approximately $78,917,163.12. This trade represents a 28.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total value of $36,805,084.16. Following the transaction, the insider directly owned 6,624 shares of the company’s stock, valued at $2,610,915.84. The trade was a 93.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,618,292 shares of company stock valued at $588,235,207. Corporate 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.