Prime Capital Investment Advisors LLC Trims Position in Carvana Co. $CVNA

Prime Capital Investment Advisors LLC trimmed its position in Carvana Co. (NYSE:CVNA) by 47.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 805 shares of the company’s stock after selling 723 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Carvana were worth $271,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after acquiring an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Carvana by 1.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock valued at $144,835,000 after purchasing an additional 9,694 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Carvana by 5.4% during the first quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock valued at $143,400,000 after purchasing an additional 35,168 shares in the last quarter. Finally, Contour Asset Management LLC lifted its holdings in shares of Carvana by 71.4% during the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock valued at $134,462,000 after purchasing an additional 267,994 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CVNA shares. Wells Fargo & Company upped their price target on Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Jefferies Financial Group set a $475.00 price target on Carvana and gave the company a “buy” rating in a report on Wednesday, October 1st. Citigroup reaffirmed a “buy” rating on shares of Carvana in a report on Thursday. JMP Securities increased their target price on Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a report on Thursday, July 31st. Finally, Wall Street Zen raised Carvana from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $407.44.

Carvana Stock Down 8.2%

NYSE CVNA opened at $330.58 on Friday. The stock’s 50-day moving average price is $365.17 and its 200-day moving average price is $315.32. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a market capitalization of $71.14 billion, a P/E ratio of 82.85, a price-to-earnings-growth ratio of 1.08 and a beta of 3.55.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) earnings per share. On average, equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity at Carvana

In related news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $398.00, for a total transaction of $5,970,000.00. Following the sale, the insider owned 81,716 shares of the company’s stock, valued at approximately $32,522,968. This trade represents a 15.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total value of $4,963,192.50. Following the sale, the chief financial officer directly owned 207,362 shares in the company, valued at $80,719,805.74. This trade represents a 5.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,996,820 shares of company stock worth $719,703,146 in the last three months. 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.