Atomi Financial Group Inc. Buys Shares of 1,654 Carvana Co. (NYSE:CVNA)

Atomi Financial Group Inc. bought a new position in Carvana Co. (NYSE:CVNA) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,654 shares of the company’s stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC lifted its holdings in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Carvana by 32.8% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock valued at $106,000 after purchasing an additional 150 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in shares of Carvana by 1.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after purchasing an additional 182 shares during the period. American Century Companies Inc. increased its stake in Carvana by 2.6% during the 2nd quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock worth $1,205,000 after purchasing an additional 241 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in Carvana during the 2nd quarter worth approximately $32,000. 56.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CVNA shares. Robert W. Baird initiated coverage on shares of Carvana in a report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective on the stock. Evercore ISI restated an “in-line” rating and issued a $178.00 price target on shares of Carvana in a report on Thursday, September 26th. Bank of America increased their price objective on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup boosted their target price on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Finally, Needham & Company LLC raised their price target on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $171.76.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $125.21, for a total value of $9,390,750.00. Following the sale, the insider now directly owns 1,940,814 shares in the company, valued at approximately $243,009,320.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $125.21, for a total value of $9,390,750.00. Following the transaction, the insider now directly owns 1,940,814 shares in the company, valued at $243,009,320.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira J. Platt sold 12,178 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $130.33, for a total transaction of $1,587,158.74. Following the sale, the director now owns 43,229 shares of the company’s stock, valued at $5,634,035.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,749,366 shares of company stock valued at $421,367,909. 17.12% of the stock is currently owned by corporate insiders.

Carvana Stock Performance

NYSE CVNA opened at $192.25 on Friday. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $194.75. The firm has a market capitalization of $38.94 billion, a price-to-earnings ratio of 84.32 and a beta of 3.44. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The firm’s 50 day simple moving average is $157.06 and its 200 day simple moving average is $125.52.

Carvana (NYSE:CVNA) last issued 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. As a group, research analysts expect that Carvana Co. will post 0.29 earnings per share for the current fiscal 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.