1,871 Shares in Carvana Co. (NYSE:CVNA) Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,871 shares of the company’s stock, valued at approximately $326,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Zacks Investment Management purchased a new stake in Carvana in the 3rd quarter valued at $5,958,000. National Bank of Canada FI grew its stake in shares of Carvana by 47.7% in the 3rd quarter. National Bank of Canada FI now owns 1,421 shares of the company’s stock worth $247,000 after acquiring an additional 459 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Carvana in the third quarter valued at about $3,633,000. Whale Rock Capital Management LLC bought a new position in shares of Carvana during the third quarter valued at about $162,953,000. Finally, Soros Fund Management LLC purchased a new position in Carvana during the third quarter worth about $2,817,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Down 8.2 %

CVNA stock opened at $233.02 on Thursday. The stock has a 50-day simple moving average of $232.27 and a two-hundred day simple moving average of $171.95. Carvana Co. has a twelve month low of $40.21 and a twelve month high of $268.34. The firm has a market capitalization of $48.38 billion, a PE ratio of 23,325.33 and a beta of 3.32. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the firm posted $0.23 EPS. Carvana’s revenue was up 31.8% on a year-over-year basis. On average, equities analysts predict that Carvana Co. will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Piper Sandler boosted their price objective on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Bank of America lifted their target price on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC lifted their price objective on shares of Carvana from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $222.71.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the transaction, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. This represents a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the sale, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,871,908 shares of company stock worth $363,028,785. Corporate insiders own 17.12% 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.