Wealth Enhancement Advisory Services LLC Acquires 348 Shares of Carvana Co. (NYSE:CVNA)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Carvana Co. (NYSE:CVNA) by 16.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,513 shares of the company’s stock after buying an additional 348 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Carvana were worth $511,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CVNA. Yousif Capital Management LLC bought a new position in shares of Carvana in the fourth quarter worth about $247,000. Empowered Funds LLC raised its stake in Carvana by 3.6% during the 4th quarter. Empowered Funds LLC now owns 2,936 shares of the company’s stock worth $597,000 after acquiring an additional 101 shares during the period. Quent Capital LLC bought a new stake in Carvana during the 4th quarter worth approximately $28,000. Allspring Global Investments Holdings LLC lifted its holdings in Carvana by 2,384.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 78,701 shares of the company’s stock valued at $15,706,000 after purchasing an additional 75,533 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in shares of Carvana in the fourth quarter worth approximately $8,483,000. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Carvana news, Director Gregory B. Sullivan sold 2,500 shares of Carvana stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $343.91, for a total transaction of $859,775.00. Following the completion of the transaction, the director now directly owns 51,928 shares of the company’s stock, valued at $17,858,558.48. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the transaction, the chief operating officer now directly owns 123,803 shares of the company’s stock, valued at approximately $18,681,872.70. This represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,271,046 shares of company stock worth $379,975,633. Corporate insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CVNA. Evercore ISI decreased their price objective on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. JMP Securities decreased their price target on Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company boosted their price objective on Carvana from $290.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. Finally, DA Davidson lifted their target price on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $280.35.

Carvana Trading Down 6.3%

CVNA stock opened at $318.88 on Friday. The firm has a fifty day moving average price of $270.50 and a 200 day moving average price of $240.77. Carvana Co. has a fifty-two week low of $100.05 and a fifty-two week high of $351.43. The firm has a market cap of $68.29 billion, a PE ratio of 203.11 and a beta of 3.65. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Carvana’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. Sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Carvana Company Profile

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.