Carvana Co. $CVNA Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers raised its stake in Carvana Co. (NYSE:CVNA) by 17.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,770 shares of the company’s stock after buying an additional 3,920 shares during the period. Cetera Investment Advisers’ holdings in Carvana were worth $8,683,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. increased its stake in Carvana by 7.0% in the 1st quarter. Victory Capital Management Inc. now owns 40,476 shares of the company’s stock valued at $8,463,000 after purchasing an additional 2,631 shares in the last quarter. IFP Advisors Inc grew its holdings in Carvana by 16.0% in the first quarter. IFP Advisors Inc now owns 638 shares of the company’s stock valued at $133,000 after purchasing an additional 88 shares during the last quarter. Choreo LLC purchased a new position in shares of Carvana in the first quarter valued at $216,000. KLP Kapitalforvaltning AS increased its position in shares of Carvana by 2.4% in the first quarter. KLP Kapitalforvaltning AS now owns 38,900 shares of the company’s stock valued at $8,133,000 after buying an additional 900 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of Carvana by 51.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,679 shares of the company’s stock worth $351,000 after buying an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CVNA shares. Morgan Stanley set a $450.00 target price on shares of Carvana in a report on Monday, October 20th. Piper Sandler increased their price target on shares of Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. DA Davidson set a $360.00 target price on Carvana in a report on Thursday, October 30th. Finally, Oppenheimer raised Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target for the company in a research report on Friday, July 25th. Sixteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $413.20.

Insider Activity

In other Carvana news, Director Ira J. Platt sold 14,000 shares of Carvana stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $379.14, for a total value of $5,307,960.00. Following the completion of the sale, the director owned 7,231 shares in the company, valued at $2,741,561.34. The trade was a 65.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan S. Keeton sold 32,370 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the transaction, the insider directly owned 115,456 shares of the company’s stock, valued at approximately $34,830,766.08. This represents a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 386,452 shares of company stock valued at $141,017,032 in the last three months. Company insiders own 17.12% of the company’s stock.

Carvana Stock Down 0.8%

Shares of NYSE CVNA opened at $310.73 on Friday. The firm has a market cap of $67.60 billion, a P/E ratio of 70.94, a price-to-earnings-growth ratio of 1.13 and a beta of 3.50. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The firm’s 50 day moving average price is $347.28 and its 200 day moving average price is $339.32.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The company’s revenue was up 54.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

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.