Focus Partners Advisor Solutions LLC Has $1.50 Million Stock Position in Carvana Co. $CVNA

Focus Partners Advisor Solutions LLC grew its stake in shares of Carvana Co. (NYSE:CVNA) by 42.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,461 shares of the company’s stock after purchasing an additional 1,321 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Carvana were worth $1,502,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CVNA. GAMMA Investing LLC increased its position in shares of Carvana by 31.4% during the 1st quarter. GAMMA Investing LLC now owns 1,030 shares of the company’s stock worth $215,000 after purchasing an additional 246 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Carvana during the 1st quarter worth approximately $204,000. Robeco Institutional Asset Management B.V. increased its position in shares of Carvana by 142.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 11,405 shares of the company’s stock worth $2,385,000 after purchasing an additional 6,699 shares during the last quarter. Highland Capital Management LLC increased its position in shares of Carvana by 43.2% during the 1st quarter. Highland Capital Management LLC now owns 6,085 shares of the company’s stock worth $1,272,000 after purchasing an additional 1,835 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Carvana by 217.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 249,754 shares of the company’s stock worth $53,095,000 after purchasing an additional 171,053 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CVNA shares. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Jefferies Financial Group set a $475.00 target price on Carvana and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Morgan Stanley set a $450.00 target price on Carvana in a research note on Monday, October 20th. Wall Street Zen downgraded Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Finally, DA Davidson lifted their target price on Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $419.94.

Carvana Stock Performance

Shares of NYSE CVNA opened at $351.33 on Monday. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The stock’s fifty day moving average price is $363.68 and its two-hundred day moving average price is $326.56. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The firm has a market cap of $75.61 billion, a price-to-earnings ratio of 88.05, a P/E/G ratio of 1.12 and a beta of 3.55.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was up 41.9% on a year-over-year basis. On average, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Insider Activity

In other news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider directly owned 81,716 shares in the company, valued at approximately $32,522,968. This represents a 15.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Stephen R. Palmer sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total value of $390,140.00. Following the sale, the vice president owned 43,513 shares of the company’s stock, valued at approximately $16,976,161.82. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,438,292 shares of company stock worth $527,769,407. 16.36% of the stock is owned by insiders.

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.