Avantax Advisory Services Inc. Makes New Investment in Carvana Co. (NYSE:CVNA)

Avantax Advisory Services Inc. purchased a new position in Carvana Co. (NYSE:CVNA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,109 shares of the company’s stock, valued at approximately $226,000.

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying an additional 5,882,656 shares during the period. Lingotto Investment Management LLP raised its position in shares of Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after acquiring an additional 57,215 shares in the last quarter. State Street Corp lifted its stake in shares of Carvana by 6.1% during the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after purchasing an additional 107,610 shares during the last quarter. Geode Capital Management LLC boosted its position in Carvana by 7.8% during the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock valued at $315,133,000 after purchasing an additional 131,059 shares in the last quarter. Finally, Whale Rock Capital Management LLC purchased a new position in Carvana in the third quarter valued at about $162,953,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the transaction, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Taira sold 27,593 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now owns 179,673 shares in the company, valued at $40,431,815.19. This trade represents a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,377 shares of company stock valued at $44,251,096. 17.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of recent analyst reports. Morgan Stanley upgraded shares of Carvana from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $260.00 to $280.00 in a report on Tuesday. Bank of America cut their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Wedbush set a $250.00 price objective on Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Piper Sandler upgraded Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price target for the company in a research note on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and an average price target of $263.88.

Carvana Stock Down 7.5 %

NYSE:CVNA opened at $205.12 on Thursday. The firm has a market capitalization of $43.72 billion, a P/E ratio of 130.65 and a beta of 3.56. The company’s fifty day moving average price is $228.32 and its 200-day moving average price is $216.50. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. As a group, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

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.