Kingsview Wealth Management LLC Buys 15,627 Shares of Carvana Co. $CVNA

Kingsview Wealth Management LLC increased its stake in shares of Carvana Co. (NYSE:CVNA) by 334.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,304 shares of the company’s stock after acquiring an additional 15,627 shares during the period. Kingsview Wealth Management LLC’s holdings in Carvana were worth $1,336,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada grew its holdings in Carvana by 40.8% during the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after purchasing an additional 8,654 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after buying an additional 181 shares during the period. Cerity Partners LLC grew its stake in Carvana by 28.8% in the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock valued at $1,847,000 after buying an additional 1,226 shares during the last quarter. AXA S.A. grew its stake in Carvana by 340.7% in the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock valued at $1,433,000 after buying an additional 3,288 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Carvana by 9.1% in the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after acquiring an additional 825 shares during the period. 56.71% of the stock is owned by institutional investors.

Carvana Stock Up 0.2%

CVNA stock opened at $74.24 on Friday. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The company has a market cap of $81.70 billion, a PE ratio of 41.06, a price-to-earnings-growth ratio of 2.69 and a beta of 3.46. The business’s 50-day simple moving average is $68.10 and its 200 day simple moving average is $68.34.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 EPS. On average, research analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the completion of the transaction, the chief financial officer owned 1,029,580 shares in the company, valued at $70,361,497.20. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael E. Maroone acquired 25,000 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $61.80 per share, for a total transaction of $1,545,000.00. Following the completion of the purchase, the director owned 168,573 shares in the company, valued at approximately $10,417,811.40. This trade represents a 17.41% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 420,897 shares of company stock worth $28,777,664 in the last ninety days. Company insiders own 15.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Hovde Group boosted their target price on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. Evercore set a $75.00 price target on Carvana in a research report on Thursday, July 30th. DA Davidson set a $67.00 price objective on Carvana in a research note on Thursday, July 30th. Citigroup cut their price objective on Carvana from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Barclays decreased their target price on Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.