Patriot Financial Group Insurance Agency LLC Buys Shares of 9,672 Carvana Co. $CVNA

Patriot Financial Group Insurance Agency LLC bought a new stake in Carvana Co. (NYSE:CVNA) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,672 shares of the company’s stock, valued at approximately $3,041,000.

Several other large investors also recently modified their holdings of CVNA. Gavilan Investment Partners LLC acquired a new position in shares of Carvana in the 3rd quarter valued at approximately $26,030,000. Sands Capital Management LLC raised its holdings in Carvana by 44.4% during the 4th quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock worth $1,030,798,000 after buying an additional 751,019 shares during the period. Intech Investment Management LLC raised its holdings in Carvana by 301.4% during the 3rd quarter. Intech Investment Management LLC now owns 7,230 shares of the company’s stock worth $2,727,000 after buying an additional 5,429 shares during the period. Picton Mahoney Asset Management raised its holdings in Carvana by 581.4% during the 3rd quarter. Picton Mahoney Asset Management now owns 16,491 shares of the company’s stock worth $6,220,000 after buying an additional 14,071 shares during the period. Finally, Capital Research Global Investors lifted its stake in Carvana by 0.5% in the third quarter. Capital Research Global Investors now owns 3,989,809 shares of the company’s stock valued at $1,505,186,000 after buying an additional 18,631 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CVNA. BNP Paribas Exane upped their price target on shares of Carvana from $77.60 to $85.80 in a report on Thursday, April 30th. Needham & Company LLC restated a “buy” rating and set a $120.00 price objective on shares of Carvana in a report on Friday, June 5th. Citigroup reaffirmed an “outperform” rating on shares of Carvana in a research report on Friday, May 1st. UBS Group reaffirmed a “buy” rating and issued a $104.00 target price (up from $97.00) on shares of Carvana in a research note on Thursday, April 30th. Finally, Jefferies Financial Group lowered their target price on Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.14.

Insider Activity at Carvana

In other news, Director J Danforth Quayle sold 14,525 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total value of $1,016,750.00. Following the completion of the transaction, the director owned 214,960 shares in the company, valued at $15,047,200. This trade represents a 6.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the completion of the sale, the director directly owned 186,470 shares in the company, valued at approximately $12,648,260.10. This represents a 7.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 415,812 shares of company stock worth $29,056,896. Corporate insiders own 15.19% of the company’s stock.

Carvana Stock Performance

Shares of CVNA opened at $62.31 on Monday. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The firm has a fifty day simple moving average of $71.20 and a 200 day simple moving average of $74.65. The stock has a market capitalization of $68.34 billion, a price-to-earnings ratio of 37.90, a PEG ratio of 10.52 and a beta of 3.45. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. Research analysts forecast that Carvana Co. will post 1.58 EPS for the current fiscal year.

About Carvana

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.