Concurrent Investment Advisors LLC Has $2.68 Million Stake in Carvana Co. (NYSE:CVNA)

Concurrent Investment Advisors LLC grew its stake in Carvana Co. (NYSE:CVNA) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,199 shares of the company’s stock after acquiring an additional 1,078 shares during the period. Concurrent Investment Advisors LLC’s holdings in Carvana were worth $2,684,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Handelsbanken Fonder AB grew its holdings in shares of Carvana by 240.2% in the 4th quarter. Handelsbanken Fonder AB now owns 93,222 shares of the company’s stock valued at $18,958,000 after acquiring an additional 65,822 shares in the last quarter. Alberta Investment Management Corp bought a new position in shares of Carvana in the 4th quarter valued at about $3,518,000. Global Retirement Partners LLC grew its holdings in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Carvana by 79.2% in the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock valued at $46,000 after acquiring an additional 99 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Carvana by 40.8% in the 4th quarter. CIBC Asset Management Inc now owns 4,740 shares of the company’s stock valued at $964,000 after acquiring an additional 1,374 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Activity

In other news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 173,629 shares of company stock worth $44,833,799. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVNA. Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of Carvana in a report on Thursday, February 6th. Robert W. Baird lifted their price target on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. Bank of America lifted their price target on Carvana from $252.00 to $270.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI lifted their price target on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Finally, Stephens reiterated an “overweight” rating and set a $300.00 price target on shares of Carvana in a report on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.06.

Carvana Trading Down 9.9 %

Shares of CVNA stock opened at $223.14 on Friday. The firm has a 50 day moving average price of $234.35 and a two-hundred day moving average price of $207.79. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The company has a market capitalization of $46.33 billion, a PE ratio of 142.13 and a beta of 3.37. Carvana Co. has a 12-month low of $49.38 and a 12-month high of $292.84.

Carvana (NYSE:CVNA) last released its quarterly earnings results 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 net margin of 1.54% and a return on equity of 446.67%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Carvana Company 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.