Cambridge Investment Research Advisors Inc. Has $2.56 Million Stock Position in Carvana Co. (NYSE:CVNA)

Cambridge Investment Research Advisors Inc. grew its holdings in shares of Carvana Co. (NYSE:CVNAFree Report) by 525.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,272 shares of the company’s stock after buying an additional 40,557 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Carvana were worth $2,556,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. acquired a new position in shares of Carvana during the fourth quarter valued at about $29,000. Hanseatic Management Services Inc. purchased a new position in Carvana during the third quarter worth about $34,000. Tidemark LLC purchased a new position in Carvana during the fourth quarter worth about $50,000. Allspring Global Investments Holdings LLC boosted its holdings in Carvana by 1,370.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,470 shares of the company’s stock worth $62,000 after purchasing an additional 1,370 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Carvana during the third quarter worth about $64,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $104.74, for a total transaction of $6,284,400.00. Following the sale, the insider now owns 1,897,500 shares of the company’s stock, valued at approximately $198,744,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $104.74, for a total value of $6,284,400.00. Following the completion of the transaction, the insider now owns 1,897,500 shares of the company’s stock, valued at approximately $198,744,150. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.75, for a total transaction of $433,750.00. Following the completion of the transaction, the vice president now directly owns 62,514 shares of the company’s stock, valued at approximately $5,423,089.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,153,273 shares of company stock valued at $122,134,240. Company insiders own 17.12% of the company’s stock.

Analyst Ratings Changes

CVNA has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. Evercore ISI lowered their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $135.00 price objective on shares of Carvana in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.60.

Read Our Latest Research Report on CVNA

Carvana Stock Down 2.4 %

NYSE CVNA opened at $99.98 on Monday. The company’s 50 day moving average is $95.37 and its 200-day moving average is $67.89. The firm has a market cap of $20.25 billion, a P/E ratio of 43.85 and a beta of 3.28. Carvana Co. has a 12-month low of $12.06 and a 12-month high of $129.00.

Carvana (NYSE:CVNAGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. Equities analysts expect that Carvana Co. will post -0.96 EPS for the current year.

Carvana Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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