Stratos Wealth Partners LTD. Makes New Investment in Carvana Co. (NYSE:CVNA)

Stratos Wealth Partners LTD. purchased a new stake in shares of Carvana Co. (NYSE:CVNA) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,718 shares of the company’s stock, valued at approximately $359,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Envestnet Asset Management Inc. increased its stake in shares of Carvana by 30.5% during the first quarter. Envestnet Asset Management Inc. now owns 45,995 shares of the company’s stock valued at $9,617,000 after buying an additional 10,753 shares during the period. Hexagon Capital Partners LLC raised its position in Carvana by 1,791.2% during the first quarter. Hexagon Capital Partners LLC now owns 2,591 shares of the company’s stock valued at $542,000 after acquiring an additional 2,454 shares in the last quarter. Teacher Retirement System of Texas raised its position in Carvana by 106.1% during the first quarter. Teacher Retirement System of Texas now owns 16,892 shares of the company’s stock valued at $3,532,000 after acquiring an additional 8,694 shares in the last quarter. Smith Group Asset Management LLC increased its position in shares of Carvana by 3.6% in the first quarter. Smith Group Asset Management LLC now owns 2,910 shares of the company’s stock valued at $608,000 after buying an additional 100 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Carvana in the first quarter valued at approximately $1,623,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Activity

In related news, CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $347.28, for a total value of $3,472,800.00. Following the completion of the transaction, the chief executive officer owned 661,440 shares of the company’s stock, valued at $229,704,883.20. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 98,528 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $349.77, for a total transaction of $34,462,138.56. Following the completion of the transaction, the insider directly owned 36,042,792 shares of the company’s stock, valued at $12,606,687,357.84. This trade represents a 0.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,831,515 shares of company stock valued at $602,488,648. 16.36% of the stock is owned by corporate insiders.

Carvana Trading Up 0.2%

NYSE CVNA opened at $348.17 on Wednesday. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $364.00. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The company has a market capitalization of $74.56 billion, a PE ratio of 122.16, a price-to-earnings-growth ratio of 1.36 and a beta of 3.59. The firm’s fifty day simple moving average is $319.51 and its 200-day simple moving average is $254.44.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the company earned $0.23 earnings per share. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Gordon Haskett started coverage on Carvana in a research report on Monday. They issued a “hold” rating and a $329.00 target price on the stock. Wells Fargo & Company lifted their target price on Carvana from $290.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Robert W. Baird boosted their price objective on Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Stephens boosted their price objective on Carvana from $300.00 to $375.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $305.00.

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.