Atria Wealth Solutions Inc. Acquires New Stake in Carvana Co. $CVNA

Atria Wealth Solutions Inc. acquired a new stake in Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,662 shares of the company’s stock, valued at approximately $564,000.

Other institutional investors have also bought and sold shares of the company. Hilltop National Bank purchased a new stake in shares of Carvana during the second quarter worth $25,000. Brooklyn Investment Group lifted its position in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Carvana during the first quarter worth $33,000. SJS Investment Consulting Inc. lifted its position in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Carvana during the second quarter worth $42,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CVNA shares. Zacks Research upgraded Carvana from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Bank of America increased their target price on Carvana from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. JMP Securities increased their target price on Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. William Blair restated an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. Finally, Stephens reiterated an “overweight” rating and issued a $440.00 price objective on shares of Carvana in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $407.44.

Carvana Trading Down 3.3%

Shares of CVNA stock opened at $333.28 on Monday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. 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 $71.72 billion, a PE ratio of 83.53, a price-to-earnings-growth ratio of 1.08 and a beta of 3.55. The business’s fifty day moving average is $364.10 and its 200 day moving average is $320.89.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The company 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 firm’s revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) earnings per share. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity at Carvana

In related news, major shareholder Ernest C. Garcia II sold 93,376 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total value of $36,805,084.16. Following the transaction, the insider owned 6,624 shares of the company’s stock, valued at $2,610,915.84. This represents a 93.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $371.30, for a total value of $37,130,000.00. Following the completion of the transaction, the insider directly owned 35,142,792 shares in the company, valued at approximately $13,048,518,669.60. This represents a 0.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,618,292 shares of company stock valued at $588,235,207 over the last 90 days. 16.36% of the stock is owned by insiders.

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.