Sugarloaf Wealth Management LLC Makes New Investment in Carvana Co. (NYSE:CVNA)

Sugarloaf Wealth Management LLC bought a new stake in Carvana Co. (NYSE:CVNA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 185 shares of the company’s stock, valued at approximately $32,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ridgewood Investments LLC acquired a new stake in shares of Carvana in the second quarter valued at approximately $32,000. Summit Securities Group LLC raised its position in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 3,300 shares in the last quarter. Fifth Third Bancorp raised its position in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in Carvana during the second quarter valued at approximately $51,000. Finally, Plato Investment Management Ltd acquired a new position in Carvana during the first quarter valued at approximately $55,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $148.68, for a total value of $14,868,000.00. Following the completion of the sale, the insider now owns 690,814 shares in the company, valued at approximately $102,710,225.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $125.21, for a total transaction of $9,390,750.00. Following the completion of the transaction, the insider now directly owns 1,940,814 shares of the company’s stock, valued at $243,009,320.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the transaction, the insider now directly owns 690,814 shares of the company’s stock, valued at $102,710,225.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,586,866 shares of company stock worth $389,372,534. Insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CVNA shares. Evercore ISI restated an “in-line” rating and set a $178.00 price objective on shares of Carvana in a research report on Thursday, September 26th. DA Davidson upped their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Wells Fargo & Company upgraded shares of Carvana from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. BTIG Research upped their price target on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Robert W. Baird initiated coverage on shares of Carvana in a research note on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $158.72.

Carvana Price Performance

Shares of NYSE CVNA opened at $190.96 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. Carvana Co. has a 1-year low of $25.09 and a 1-year high of $191.00. The firm has a market capitalization of $38.68 billion, a P/E ratio of 83.75 and a beta of 3.44. The firm’s 50-day moving average price is $153.92 and its 200-day moving average price is $123.62.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. Equities research analysts anticipate that Carvana Co. will post 0.27 earnings per share for the current fiscal 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.