Stratos Wealth Partners LTD. Takes $380,000 Position in Carvana Co. (NYSE:CVNA)

Stratos Wealth Partners LTD. bought a new stake in shares of Carvana Co. (NYSE:CVNA) in the 4th quarter, Holdings Channel reports. The firm bought 7,178 shares of the company’s stock, valued at approximately $380,000.

Several other large investors have also recently made changes to their positions in CVNA. 1832 Asset Management L.P. purchased a new position in Carvana in the 1st quarter worth approximately $59,000. Blue Trust Inc. purchased a new position in Carvana in the 4th quarter worth approximately $29,000. Hanseatic Management Services Inc. purchased a new position in Carvana in the 3rd quarter worth approximately $34,000. Harvest Fund Management Co. Ltd raised its holdings in Carvana by 1,225.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock worth $50,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Carvana by 270.9% in the 2nd quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock worth $30,000 after acquiring an additional 967 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVNA. Wedbush boosted their price objective on shares of Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Royal Bank of Canada raised shares of Carvana from an “underperform” rating to a “sector perform” rating and lifted their target price for the stock from $45.00 to $90.00 in a research report on Friday, March 8th. William Blair raised shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Evercore ISI lifted their target price on shares of Carvana from $75.00 to $78.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 2nd. Finally, Morgan Stanley lifted their target price on shares of Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.60.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the transaction, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the transaction, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernest C. Garcia III sold 9,390 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total transaction of $777,773.70. Following the completion of the transaction, the chief executive officer now directly owns 861,458 shares of the company’s stock, valued at approximately $71,354,566.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,883 shares of company stock valued at $11,498,678. Company insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of CVNA stock opened at $74.99 on Monday. Carvana Co. has a 1 year low of $6.70 and a 1 year high of $94.04. The firm has a fifty day moving average price of $73.08 and a 200-day moving average price of $51.46. The company has a market cap of $15.14 billion, a price-to-earnings ratio of 138.87 and a beta of 3.32.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Carvana’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the firm posted ($0.97) earnings per share. Equities research analysts expect that Carvana Co. will post -3.4 EPS 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.