SeaCrest Wealth Management LLC Sells 4,943 Shares of Carvana Co. (NYSE:CVNA)

SeaCrest Wealth Management LLC lessened its holdings in Carvana Co. (NYSE:CVNA) by 47.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,506 shares of the company’s stock after selling 4,943 shares during the period. SeaCrest Wealth Management LLC’s holdings in Carvana were worth $484,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. bought a new stake in shares of Carvana during the 4th quarter valued at approximately $29,000. Parallel Advisors LLC grew its stake in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares during the last quarter. Tidemark LLC acquired a new position in shares of Carvana during the fourth quarter worth $50,000. Headlands Technologies LLC bought a new position in shares of Carvana in the 4th quarter valued at $87,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Carvana by 112.9% during the 4th quarter. Russell Investments Group Ltd. now owns 1,699 shares of the company’s stock valued at $90,000 after acquiring an additional 901 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In related news, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $85.71, for a total value of $428,550.00. Following the sale, the vice president now owns 56,872 shares in the company, valued at approximately $4,874,499.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $125.43, for a total transaction of $9,407,250.00. Following the transaction, the insider now directly owns 2,917,500 shares of the company’s stock, valued at $365,942,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total transaction of $428,550.00. Following the completion of the sale, the vice president now directly owns 56,872 shares of the company’s stock, valued at $4,874,499.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,793,946 shares of company stock valued at $196,342,406. Corporate insiders own 17.18% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of recent research reports. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. JMP Securities lifted their target price on shares of Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th. Evercore ISI upped their price target on shares of Carvana from $118.00 to $135.00 and gave the company an “in-line” rating in a research report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a report on Wednesday, June 26th. Finally, Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and increased their price objective for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $88.50.

Carvana Price Performance

NYSE CVNA opened at $127.55 on Wednesday. The stock has a market capitalization of $25.84 billion, a P/E ratio of 55.94 and a beta of 3.37. Carvana Co. has a one year low of $23.43 and a one year high of $136.92. The business has a 50 day simple moving average of $109.83 and a 200 day simple moving average of $79.75.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. Equities analysts expect that Carvana Co. will post -0.75 earnings per share for the current 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.